Seagate Tech. Profit Falls On Lower Revenue; Stock Down 5% - Quick Facts

(RTTNews) - Seagate Technology plc (STX), a maker of electronic data storage products, Monday reported a lower second-quarter net income of $428 million or $1.24 per share compared with $492 million or $1.30 per share last year.

Excluding items, adjusted earnings for the recent quarter were $455 million or $1.32 per share.

Revenues for the quarter were $3.53 billion compared with $3.67 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.38 per share on revenues of $3.56 billion for the quarter. Analysts' estimates typically exclude special items.

The company declared a quarterly cash dividend of $0.43 per share, payable on February 24 to shareholders of record as on February 10.