Seagate net profit triples; disks in tight supply
By
With demand out pacing factory capacity for disks, Seagate has beaten Reuters estimates of $.70 per share by $.03 (Including after merger charges) on revenues that rose 14%!
Seagate Technology on Thursday reported a near tripling of quarterly profit, fueled by mounting demand for hard disk drives from businesses and consumers that left its plants short of supply.
The world’s data storage market leader posted a net profit for the second-fiscal quarter ended December 28 of $403 million, or 73 cents per diluted share, compared with the year ago quarter’s profit of $140 million, or 23 cents per share.
Comments are closed.