Seagate Technology PLC Reports 7% Fall In Q1 Bottom Line

(RTTNews) - Seagate Technology PLC (STX) reported earnings for first quarter that retreated from last year.

The company said its earnings declined to $279 million, or $0.96 per share. This was down from $299 million, or $0.99 per share, in last year's first quarter.

Analysts had expected the company to earn $0.85 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.7% to $2.63 billion. This was down from $2.79 billion last year.

Seagate Technology PLC earnings at a glance:

-Earnings (Q1): $279 Mln. vs. $299 Mln. last year. -Earnings Decline (Y-o-Y): -6.7% -EPS (Q1): $0.96 vs. $0.99 last year. -EPS Decline (Y-o-Y): -3.0% -Analysts Estimate: $0.85 -Revenue (Q1): $2.63 Bln vs. $2.79 Bln last year. -Revenue Change (Y-o-Y): -5.7%