Seagate reported first quarter earnings that beat analysts' expectations on Friday and revenue that topped forecasts.
The firm reported earnings per share of $1.03 on revenue of $2.58B. Analysts polled by anticipated EPS of $0.98 on revenue of $2.56B. That compared to EPS of $1.7 on revenue of $2.99B in the same period a year earlier. The company had reported EPS of $0.86 on revenue of $2.37B in the previous quarter.
Seagate shares lost 5.89% to trade at $54.61 in pre-market trade following the report.
Seagate follows other major Technology sector earnings this month
On Wednesday, Apple reported fourth quarter EPS of $3.03 on revenue of $64.04B, compared to forecasts of EPS of $2.83 on revenue of $62.94B.
Microsoft earnings beat analysts' expectations on October 23, with first quarter EPS of $1.38 on revenue of $33.06B. analysts expected EPS of $1.25 on revenue of $32.15B
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