Seagate Technology Holdings Plc (NASDAQ:STX) shares are trading higher in Wednesday’s premarket session after reporting its fourth-quarter results after Tuesday’s closing bell, beating analyst estimates on the top and bottom lines.
Seagate Q4 Details Seagate reported quarterly earnings of $5.71 per share, which beat the Street estimate of $5.09 by 12.18%, according to Benzinga Pro data.
Quarterly revenue came in at $3.63 billion, which beat the consensus estimate of $3.49 billion and was up from $2.44 billion in the same period last year.
Seagate shipped 218 exabytes in the June quarter, up 34% year over year (Y/Y), with data center customers representing 89% of total shipments.
Data center shipments reached 195 exabytes, increasing 11% sequentially (Q/Q) and 43% year over year (Y/Y), while data center revenue rose to $2.9 billion, up 17% Q/Q and 57% Y/Y.
