Seagate Technology PLC Q3 adjusted earnings Beat Estimates

(RTTNews) - Seagate Technology PLC (STX) released a profit for third quarter that dropped from the same period last year.

The company's profit totaled $195 million, or $0.69 per share. This compares with $381 million, or $1.31 per share, in last year's third quarter.

Excluding items, Seagate Technology PLC reported adjusted earnings of $235 million or $0.83 per share for the period.

Analysts had expected the company to earn $0.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 17.5% to $2.31 billion from $2.80 billion last year.

Seagate Technology PLC earnings at a glance:

-Earnings (Q3): $235 Mln. vs. $424 Mln. last year. -EPS (Q3): $0.83 vs. $1.46 last year. -Analysts Estimate: $0.71 -Revenue (Q3): $2.31 Bln vs. $2.80 Bln last year.