Seagate expertise. (NASDAQ: STX) – Seagate Beats Fourth Quarter Outcomes, Studies Robust FY22 First Quarter Outlook

Seagate Know-how Holdings PLC (NASDAQ: STX) reported fiscal 12 months 21 fourth-quarter income progress of 19.7% year-on-year to $ 3.01 billion, beating analysts’ consensus of two.95 billion {dollars}. Non-GAAP EPS of $ 2.00 broke analyst consensus by $ 1.84.

  • Gross sales in mass storage markets elevated 29% year-on-year.
  • Non-GAAP gross margin elevated 230 foundation factors to 29.6%, whereas non-GAAP working margin elevated 330 foundation factors to 18.1%.
  • The corporate generated $ 478 million in working money circulate, paid $ 154 million in money dividends, and repurchased shares value $ 228 million.
  • Seagate held $ 1.2 billion in money and money equivalents.
  • Demand for information is accelerating quickly within the cloud and on the edge, driving secular progress for top capability information storage.
  • The board of administrators declared a quarterly money dividend of $ 0.67 per share, payable October 7 to shareholders of file on September 22.
  • Outlook: STX is forecasting income of $ 3.1 billion within the first quarter of FY22, roughly $ 150 million above analyst consensus of $ 2.94 billion.
  • He expects non-GAAP EPS of $ 2.20, plus or minus $ 0.15, in opposition to analyst consensus of $ 1.85.
  • Worth motion: STX shares have dropped their positive factors and are buying and selling down 3.79% at $ 82.85 within the pre-market session final test Wednesday.

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