Seagate Technology Down Slightly After Q2 Earnings Results

Hard drive maker Seagate Technology

released its fiscal Q2 earnings results after the closing bell on Tuesday. The company reported net income of $563 million, or $1.28 per share, compared to $150 million or $0.31 per share, in the year ago period. On a non-GAAP basis, which is comparable to analysts consensus, Seagate reported net income of $581 million or $1.32 per share. This compared to Street consensus EPS estimates of $1.08. Revenues in the quarter were $3.195 billion, up from $2.719 billion in last year's fiscal Q2. This compared to Wall Street revenue estimates of $3.15 billion. In Tuesday's after hours trading session, STX shares have fallen 2% to $20.72.