Seagate Technology (STX) Sharply Lower as June Revenue Guidance is Short of Views, FY EPS In-Line
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Seagate Technology Reports Fiscal Third Quarter 2017 Financial Results
April 26, 2017 8:01 AM EDTRevenue up 3% year-over-year
CUPERTINO, Calif.--(BUSINESS WIRE)-- Seagate Technology plc (NASDAQ: STX) (the Company or Seagate) today reported financial results for the third quarter of fiscal year 2017 ended March 31, 2017. For the third quarter, the Company reported revenue of $2.7 billion, gross margin of 30.5%, net income of $194 million and diluted earnings per share of $0.65. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported gross margin of 31.4%, net income of $329 million and diluted earnings per share of $1.10.
During the third quarter, the Company generated $426 million in cash... More
