Seagate Technology (STX) Misses Q3 EPS by 52c, Guidance Misses

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Go back to Seagate Technology (STX) Misses Q3 EPS by 52c, Guidance Misses

Seagate Technology Reports Fiscal Third Quarter 2023 Financial Results

April 20, 2023 8:05 AM EDT

Revenue of $1.86 billion GAAP (loss) per share of $(2.09); non-GAAP (loss) per share of $(0.28) Cash flow from operations of $228 million and free cash flow of $174 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 third quarter ended March 31, 2023.

We are seeing a more elongated customer inventory correction that led to weaker than expected nearline demand among a few large customers late in the quarter.... More