Seagate Technology Down Slightly After Q2 Earnings Results

Hard drive maker Seagate Technology (NYSE: STX) 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.