Seagate reported fourth quarter earnings that beat analysts' expectations on Friday and revenue that topped forecasts.
The firm reported earnings per share of $0.86 on revenue of $2.37B. Analysts polled by anticipated EPS of $0.84 on revenue of $2.33B. That compared to EPS of $1.62 on revenue of $2.84B in the same period a year earlier. The company had reported EPS of $0.83 on revenue of $2.31B in the previous quarter.
Seagate shares lost 4.89% to trade at $44.00 in pre-market trade following the report.
Seagate follows other major Technology sector earnings this month
On July 18, Microsoft reported fourth quarter EPS of $1.37 on revenue of $33.72B, compared to forecasts of EPS of $1.21 on revenue of $32.77B.
Apple earnings beat analysts' expectations on Tuesday, with third quarter EPS of $2.18 on revenue of $53.81B. analysts expected EPS of $2.09 on revenue of $53.3B
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