Seagate Technology Q2 Profit Rises - Quick Facts

(RTTNews) - Seagate Technology plc (STX) reported second-quarter net income of $297 million or $1.00 per share compared to $165 million or $0.55 per share, previous year. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported net income of $412 million and earnings per share of $1.38. On average, 28 analysts polled by Thomson Reuters expected the company to report profit per share of $1.08 for the quarter. Analysts' estimates typically exclude special items.

Second-quarter revenue was $2.89 billion, compared to $2.99 billion, a year ago. Analysts expected revenue of $2.83 billion, for the quarter.

The Board of Seagate has approved a quarterly cash dividend of $0.63 per share, which will be payable on April 5, 2017 to shareholders of record as of the close of business on March 22, 2017.