Seagate Technology (STX) Tops Q2 EPS by 13c
Seagate Technology (NASDAQ: STX) reported Q2 EPS of $1.48, $0.13 better than the analyst estimate of $1.35. Revenue for the quarter came in at $2.9 billion versus the consensus estimate of $2.86 billion.
“Achieving year-over-year revenue and profitability growth and significant cash flow generation in the December quarter reflects Seagate’s solid execution and competitiveness of our storage solutions portfolio, particularly in the cloud-based environments. With our leading storage technology platforms, manufacturing and supply-chain management capabilities, Seagate is in a strong position to support ever-increasing storage demand from diverse markets and applications. Looking ahead, we will continue to focus on operational excellence and accomplishing our financial and shareholder-return objectives,” said Dave Mosley, Seagate’s chief executive officer.
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