Seagate Technology Holdings plc (STX) recently released its earnings report, showcasing significant results for the first quarter. The company posted earnings of $305 million, a notable turnaround from a deficit of $184 million in the same quarter of the previous year. Earnings per share (EPS) also improved, reaching $1.41 compared to a loss of $0.88 per share in the prior year.
When excluding certain items, Seagate reported adjusted earnings of $337 million, or $1.58 per share, exceeding analyst expectations of $1.48 per share. The company's revenue also saw substantial growth, climbing to $2.168 billion from $1.454 billion in the same period last year.
Looking ahead, Seagate has provided the following guidance for the next quarter: EPS is projected to be between $1.65 and $2.05, while revenue is expected to fall within the range of $2.150 billion to $2.450 billion.
