Categories AlphaGraphs, Earnings, Technology

Earnings Infographic: Seagate Technology (STX) Q4 2022 financial results

Storage solutions provider Seagate Technology plc (NASDAQ: STX) has reported lower revenues and adjusted profit for the fourth quarter of 2022. Both operating segments registered a double-digit decline in revenues.

Seagate Q4 2022 earnings infographic

Adjusted net profit, which excludes special itmes, dropped to $1.59 per share in the final three months of 2022, from $2.00 per share in the same period of the prior year. Unadjusted profit dropped to $276 million or $1.27 per share from $482 million or $2.07 per share a year earlier.

The bottom line performance was negatively impacted by a 13% fall in net revenues to $2.63 billion. HDD revenues dropped 12%, while Systems, SSD, and Other revenues declined 21%.

Check this space to read management/analysts’ comments on Seagate’s Q4 2022 earnings

“The confluence of macro-related challenges is continuing into the September quarter. In this environment, we are reducing our production plans to maintain supply discipline as our customers manage through macro uncertainty and ongoing non-HDD component shortages, and we are diligently managing expenses to protect profitability,” said Seagate’s chief executive officer Dave Mosley.


Stocks you may like:

Apple (AAPL) Stock

Microsoft (MSFT) Stock

Alphabet (GOOGL) Stock

International Business Machines Corp. (IBM) Stock


Most Popular

WMT Earnings: All you need to know about Walmart’s Q2 2023 earnings results

Walmart Inc. (NYSE: WMT) reported second quarter 2023 earnings results today. Total revenue increased 8.4% year-over-year to $152.9 billion. Revenues grew 9.1% in constant currency. Consolidated net income attributable to

Rivian (RIVN) reaffirms production goals. Will it be a smooth ride?

The evolution of the electric vehicle industry accelerated in recent years even as innovations in battery technology and affordability brought EVs into the mainstream. Encouraged by the success of market

Pfizer (PFE): A look at the headwinds and tailwinds this pharma giant faces in the near term

Shares of Pfizer Inc. (NYSE: PFE) were down on Monday. The stock has dropped 15% year-to-date and there is a mixed sentiment surrounding the company’s growth prospects. Pfizer has benefited

Add Comment
Viewing Highlight