This post was originally published on this site
https://i-invdn-com.investing.com/news/fa8a2f803ea2ddf92359d55091dcde0a_M.jpg
The hard disk drive manufacturer recorded revenues of $1.45 billion and an EPS of -$0.22, falling short of Zacks Consensus Estimate by -2.10% and -10% respectively. The company’s hard disk drive (HDD) products earned $1.30 billion, and enterprise data solutions, solid-state drive (SSD) & other products generated $159 million, both underperforming against analyst estimates.
On a brighter note, Seagate surpassed two-analyst average estimates with shipped mass capacity reaching 79.2 Exabytes (EB) and total capacity hitting 89.6 EB. However, the firm fell short in legacy capacity at 10.4 EB.
Despite these results and currently holding a Zacks Rank #4 (Sell), Seagate has been outperforming in the stock market over the past month. However, Zacks Investment Research suggests that Seagate may underperform in the near term based on their analysis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
