Seagate Technology Q2 Profit Rises - Quick Facts

(RTTNews) - Seagate Technology plc. (STX) reported increase in its net income for the second quarter of $933 million, up from $428 million in the prior-year period. Earnings per share attributable to ordinary shareholders were $2.78, compared with $1.24 last year.

On a non-GAAP basis, earnings for the latest-quarter were $452 million, or $1.35 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $1.35 per share. Analysts' estimates typically exclude special items.

Quarterly revenue rose to $3.70 billion from $3.53 billion last year, while 20 analysts had a consensus revenue estimate of $3.74 billion.

Further, the Board of Directors has approved a quarterly cash dividend of $0.54 per share, payable on February 24, 2015 to shareholders of record as of the close of business on February 10, 2015.