Seagate: Fiscal Q2 Earnings Snapshot

SINGAPORE (AP) — SINGAPORE (AP) — Seagate Technology Holdings plc (STX) on Tuesday reported fiscal second-quarter earnings of $336 million.

On a per-share basis, the Singapore-based company said it had net income of $1.55. Earnings, adjusted for non-recurring costs and stock option expense, came to $2.03 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.88 per share.

The electronic storage maker posted revenue of $2.33 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.31 billion.

For the current quarter ending in March, Seagate expects its per-share earnings to range from $1.50 to $1.90.

The company said it expects revenue in the range of $1.95 billion to $2.25 billion for the fiscal third quarter.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STX at https://www.zacks.com/ap/STX

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