Storage solutions provider Seagate Technology plc (NASDAQ: STX) announced fourth-quarter 2021 results on Wednesday morning, reporting a double-digit increase in earnings and revenues. The results also topped the market’s projection.
The adjusted net income was $2.00 per share in the June quarter, up from last year’s earnings of $1.20 per share and above the consensus estimates. Reported profit rose to $482 million or $2.07 per share from $166 million or $0.64 per share in the fourth quarter of 2020.
The strong bottom-line performance reflects a 20% increase in revenues to $3.01 billion. The top-line also exceeded the expert’s forecast.
Seagate’s shares gained in early Wednesday soon after the earnings announcement, after closing the previous session higher.
Stocks you may like:
Like other leading store operators, Costco Wholesale Corporation (NASDAQ: COST) went into overdrive when people stockpiled on essential items after coronavirus threw normal life out of gear in early 2020.
Nike Inc. (NYSE: NKE) reported first quarter 2022 earnings results today. Total revenue increased 16% year-over-year to $12.2 billion. Net income rose 23% to $1.9 billion while EPS grew 22%
Warehouse chain Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the fourth quarter of 2021. The results also topped expectations. Fourth-quarter net sales grew 17.5% annually to