Seagate Tech Hldgs Q2 2024 Adj EPS $0.12 Beats $(0.06) Estimate, Sales $1.56B Beat $1.55B Estimate
Portfolio Pulse from Benzinga Newsdesk
Seagate Technology Holdings (STX) reported Q2 2024 adjusted earnings per share (EPS) of $0.12, surpassing the consensus estimate of $(0.06). Quarterly sales reached $1.56 billion, slightly above the $1.55 billion estimate but representing a 17.33% decrease from the same period last year.
January 24, 2024 | 9:06 pm
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Seagate Technology Holdings reported higher-than-expected Q2 2024 earnings and sales, beating EPS estimates by 300% and sales estimates by 0.51%, despite a year-over-year decline in sales.
The positive earnings surprise is likely to instill investor confidence and could lead to a short-term uptick in STX's stock price. However, the year-over-year decline in sales might temper the market's reaction, preventing a more significant stock price increase.
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