Here are the recent earnings highlights for Seagate Technology PLC (STX):
In the third quarter, Seagate Technology PLC posted earnings of $25 million, marking a significant improvement from the $433 million loss reported in the same period the previous year. The company reported an Earnings Per Share (EPS) of $0.12 for the quarter, a stark contrast to the -$2.09 reported during the equivalent quarter in the preceding year.
When excluding certain items, Seagate Technology PLC's adjusted earnings stood at $71 million, or $0.33 per share. This exceeded analyst projections, which anticipated $0.29 per share. However, the company experienced a drop in revenue, generating $1.66 billion in the third quarter compared to $1.86 billion in the same quarter last year.
Looking ahead, Seagate Technology PLC's guidance for the next quarter sets the EPS within the range of $0.50 to $0.90. Revenue is projected to land between $1.70 and $2.00 billion.
