Seagate Technology Holdings PLC (NASDAQ:STX) shares climbed after the company released its first-quarter earnings report after Tuesday's closing bell, beating expectations on the top and bottom lines.
Here's a look at the key figures from the quarter.
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The Details: Seagate Technology Holdings reported quarterly earnings of $2.61 per share which beat the analyst estimate of $2.37 by 9.99%.
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Quarterly revenue came in at $2.62 billion which beat the Street estimate of $2.54 billion.
The company generated $532 million in cash flow from operations and $427 million in free cash flow in the first quarter.
“Seagate delivered strong September quarter results, with revenue growth of 21% year-over-year and non-GAAP EPS exceeding the high end of our guided range. Our performance underscores the team’s strong execution and robust customer demand for our high-capacity storage products,” said Dave Mosley, Seagate CEO.
Outlook: Seagate sees second-quarter adjusted EPS between $2.55 and $2.95, versus the $2.62 estimate, and revenue in a range of $2.6 billion to $2.8 billion, versus the $2.65 billion estimate.
STX Stock Price: According to data from Benzinga Pro, Seagate stock was up 4.07% at $232.07 in Tuesday's extended trading.
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