Storage solutions provider Seagate Technology plc (NASDAQ: STX) reported financial results for the third quarter of 2023. The company also provided guidance for the fourth quarter.
- Third-quarter revenues decreased 34% year-over-year to $1.86 billion
- The company reported a net loss of $433 million or $2.09 per share for the quarter, compared to a profit of $346 million or $1.56 per share last year
- On an adjusted basis, the third-quarter loss was $0.28 per share, compared to earnings of $1.81 per share in the prior-year period
- During the quarter, the company generated $228 million in cash flow from operations and $174 million in free cash flow
- For the fourth quarter of 2023, the company expects revenue to be $1.7 billion, plus or minus $150 million
- It expects a loss per share of $0.20, plus or minus $0.20, for the fourth quarter, on an adjusted basis
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Earnings Preview: Walmart (WMT) expected to report sales and profit gains in Q1
Over the years, Walmart Inc. (NYSE: WMT) has constantly diversified while maintaining its dominance in the retail world. The company is preparing to report financial results for the first three
After a positive year, what’s in the cards for Electronic Arts (EA) in FY25
Electronic Arts (NASDAQ: EA) ended fiscal 2024 on a mixed note, reporting lower revenues and improved bottom-line performance for the fourth quarter. The stock declined following the announcement as earnings
A look at how Disney’s (DIS) entertainment business performed in Q2 2024
Shares of the Walt Disney Company (NYSE: DIS) stayed green on Wednesday. The stock has gained 16% year-to-date. The company recorded revenue and earnings growth for the second quarter of
