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: Johnson & Johnson bets on innovation to stay in growth mode
Over the years, Johnson & Johnson (NYSE: JNJ) has remained a dominant player in the medical industry, benefitting from its unique business model and growth strategy focused on constant innovation.
Key takeaways from PepsiCo’s Q3 2024 earnings report
Shares of PepsiCo, Inc. (NASDAQ: PEP) gained over 1% on Tuesday even though the company delivered mixed results for the third quarter of 2024 and lowered its guidance for the
PEP Earnings: All you need to know about PepsiCo’s Q3 2024 earnings results
PepsiCo, Inc. (NASDAQ: PEP) reported its third quarter 2024 earnings results today. Net revenue dipped 0.6% to $23.3 billion compared to the same period a year ago. Organic revenue growth
