Seagate profit drops, results miss targets

Jelenleg -4,75%-ban tanyázik,:

Seagate Technology STX -4.75% on Monday reported a fiscal first-quarter profit of $427 million, or $1.16 a share, compared with a profit of $582 million, or $1.42 a share, for the year-earlier period. Revenue slipped to $3.49 billion from $3.73 billion. Adjusted profit was $1.29 a share. Analysts polled by FactSet on average were expecting Seagate to report a profit of $1.31 a share on revenue of $3.56 billion. Shares of Seagate fell more than 4% after hours