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Seagate (STX) Reports Q4 Earnings: What Key Metrics Have to Say (Revised)
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Seagate (STX - Free Report) reported $1.6 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 39%. EPS of -$0.18 for the same period compares to $1.59 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.65 billion, representing a surprise of -3.01%. The company delivered an EPS surprise of +21.74%, with the consensus EPS estimate being -$0.23.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Seagate performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Capacity Shipped - Mass capacity: 75.2 EB versus 97.09 EB estimated by two analysts on average.
Capacity Shipped - Total: 91.2 EB versus the two-analyst average estimate of 111.49 EB.
Capacity Shipped - Legacy: 16 EB versus 14.41 EB estimated by two analysts on average.
Revenue by Product Line- HDD: $1.39 billion versus the three-analyst average estimate of $1.45 billion. The reported number represents a year-over-year change of 0%.
Revenue by Product Line- Enterprise Data Solutions, SSD & Other: $218 million versus $247.96 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
Shares of Seagate have returned -6.2% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued on July 26, 2023, should no longer be relied upon.)
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Seagate (STX) Reports Q4 Earnings: What Key Metrics Have to Say (Revised)
Seagate (STX - Free Report) reported $1.6 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 39%. EPS of -$0.18 for the same period compares to $1.59 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.65 billion, representing a surprise of -3.01%. The company delivered an EPS surprise of +21.74%, with the consensus EPS estimate being -$0.23.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Seagate performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for Seagate here>>>
Shares of Seagate have returned -6.2% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued on July 26, 2023, should no longer be relied upon.)