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Seagate: Fiscal 2Q Earnings Snapshot

DUBLIN (AP) _ Seagate Technology PLC (STX) on Monday reported fiscal second-quarter net income of $384 million.

The Dublin-based company said it had profit of $1.34 per share. Earnings, adjusted for non-recurring costs, came to $1.41 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.

The electronic storage maker posted revenue of $2.72 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $2.74 billion.

Seagate shares have risen 18 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 8.5 percent. In the final minutes of trading on Monday, shares hit $45.73, a fall of 12 percent 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