SINGAPORE (AP) — SINGAPORE (AP) — Seagate Technology Holdings plc (STX) on Tuesday reported fiscal first-quarter profit of $549 million.
The Singapore-based company said it had net income of $2.43 per share. Earnings, adjusted for stock option expense and restructuring costs, came to $2.61 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.36 per share.
The electronic storage maker posted revenue of $2.63 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $2.53 billion.
For the current quarter ending in December, Seagate expects its per-share earnings to range from $2.55 to $2.95.
The company said it expects revenue in the range of $2.6 billion to $2.8 billion for the fiscal second quarter.
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