Seagate Technology (STX) Misses Q1 EPS by 28c, Cuts Guidance and Announces Restructuring Plan

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Go back to Seagate Technology (STX) Misses Q1 EPS by 28c, Cuts Guidance and Announces Restructuring Plan

Seagate Technology Reports Fiscal First Quarter 2023 Financial Results

October 26, 2022 8:00 AM EDT

Revenue of $2.04 billion GAAP diluted earnings per share (EPS) of $0.14; non-GAAP diluted EPS of $0.48 Cash flow from operations of $245 million and free cash flow of $112 million Announced restructuring plan with expected annualized savings of approximately $110 million Declared cash dividend of $0.70 per share

FREMONT, Calif.--(BUSINESS WIRE)-- Seagate Technology Holdings plc (NASDAQ: STX) (the Company or Seagate) today reported financial results for its fiscal first quarter ended September 30, 2022.

Global economic uncertainties and broad-based customer inventory corrections worsened in the latter stages of the September... More