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
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,