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Seagate Q4 falls short as does outlook, but cloud and data center demand solid

July 28, 2020

Via: ZDnet
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Seagate’s fiscal fourth quarter had a bevy of moving parts that crimped results, but cloud and data center demand was strong. Nevertheless, Seagate’s outlook disappointed.

The storage company reported fourth quarter earnings of 64 cents a share ($1.20 non-GAAP) on revenue of $2.52 billion. For fiscal 2020, Seagate reported earnings of $3.79 a share on revenue of $10.51 billion.

Wall Street was looking for fourth quarter non-GAAP earnings of $1.29 a share on revenue of $2.62 billion.

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