On Friday, Seagate reported fiscal-second-quarter earnings and revenue that surpassed analysts' expectations.
For the quarter ended Jan. 1, the data storage company’s adjusted earnings came in at $1.29 a share, compared to the $1.13 expected by analysts polled by FactSet.
Revenue fell -2.7% year-over-year to $2.62 billion, also exceeding analysts’ forecast of $2.56 billion.
"Seagate delivered strong, double-digit revenue, earnings and free cash flow growth in the December quarter, supported by broad-based improvement across nearly every served market and geography, and we had solid customer demand for our mass capacity products," Chief Executive Dave Mosley mentioned in a statement.