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Seagate: Fiscal 4Q Earnings Snapshot

August 2, 2019

DUBLIN (AP) _ Seagate Technology PLC (STX) on Friday reported fiscal fourth-quarter net income of $983 million.

On a per-share basis, the Dublin-based company said it had net income of $3.54. Earnings, adjusted for one-time gains and costs, came to 86 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The electronic storage maker posted revenue of $2.37 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.31 billion.

For the year, the company reported profit of $2.01 billion, or $7.06 per share. Revenue was reported as $10.39 billion.

For the current quarter ending in October, Seagate expects its per-share earnings to be 90 cents.

The company said it expects revenue in the range of $2.55 billion for the fiscal first quarter.

Seagate shares have risen 20% since the beginning of the year, while the Standard & Poor’s 500 index has increased 18%. The stock has fallen 13% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STX at https://www.zacks.com/ap/STX

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