Seagate Technology Shares Rise After Hours As 2Q Results Beat Analyst Views

Dow Jones2023-01-26

Shares of Seagate Technology Holdings PLC increased 7.6% to $66.98 in after-hours trading on Wednesday after the company posted fiscal second-quarter results that beat analysts' expectations.

The company posted a loss of $33 million, or 16 cents per share. On an adjusted basis, the company posted earnings of 16 cents per share. Analysts polled by FactSet were looking for adjusted earnings of 9 cents per share.

Revenue was $1.89 billion, above analysts' expectation of $1.82 billion.

For the third quarter, the company guided for revenue of $2 billion, plus or minus $150 million. Analysts expected $1.88 billion for the third quarter.

Adjusted per-share earnings for the period are expected to be 25 cents, plus or minus 20 cents, it said.

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T202311701
2023-01-26
T202311701
O
Fahmi R
2023-01-26
Fahmi R
Nice

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