Seagate Technology reported fiscal fourth-quarter results that came in above market expectations. The storage company posted revenue of $3.63 billion, topping the consensus estimate of $3.49 billion. Adjusted earnings per share reached $5.71, also ahead of the expected $5.08. The earnings release came after a weak regular session for the stock. Seagate shares had closed down 8.53% in Tuesday trading, but moved higher in after-hours trading following the results. As of the report cited by BlockBeats on July 29, the stock was up 5.44% after the bell. The move reflected the market's immediate reaction to quarterly figures that exceeded expectations on both revenue and adjusted profit.
Seagate Technology reported fiscal fourth-quarter results on July 29, according to BlockBeats.
The storage company posted revenue of $3.63 billion, above the market estimate of $3.49 billion. Adjusted earnings per share came in at $5.71, also ahead of the expected $5.08.
In the stock market, Seagate closed down 8.53% in Tuesday's regular U.S. trading session. After the earnings release, the stock turned higher and was up 5.44% in after-hours trading.
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