Compared to Estimates, Seagate (STX) Q2 Earnings: A Look at Key Metrics
For the quarter ended December 2023, Seagate (STX) reported revenue of $1.56 billion, down 17.6% over the same period last year. EPS came in at $0.12, compared to $0.16 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.56 billion, representing a surprise of -0.29%. The company delivered an EPS surprise of +271.43%, with the consensus EPS estimate being -$0.07.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Seagate performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Capacity Shipped - Mass capacity: 83.2 EB versus 85.49 EB estimated by two analysts on average.
Capacity Shipped - Total: 95.1 EB compared to the 97.17 EB average estimate based on two analysts.
Capacity Shipped - Legacy: 12 EB versus the two-analyst average estimate of 11.68 EB.
Revenue by Product Line- Enterprise Data Solutions, SSD & Other: $171 million versus the three-analyst average estimate of $159.34 million. The reported number represents a year-over-year change of -23.7%.
Revenue by Product Line- HDD: $1.38 billion compared to the $1.41 billion average estimate based on three analysts. The reported number represents a change of -16.8% year over year.
View all Key Company Metrics for Seagate here>>>
Shares of Seagate have returned +3.9% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Seagate Technology Holdings PLC (STX) : Free Stock Analysis Report
