Seagate Technology Expects Q1 Revenue Of $2.8 Bln

(RTTNews) - Seagate Technology plc (STX) Tuesday said it expects first quarter revenue to be $2.8 billion. Earlier, the company was looking for revenue of $2.7 billion.

Seagate expects to report HDD exabyte shipments of approximately 67 exabytes, reflecting unit shipments of approximately 39 million and average capacity per drive of 1.7 terabytes.

The company expects its operating expenses for the September quarter to increase sequentially from the June quarter primarily due to higher variable compensation related to better financial performance.

Steve Luczo, chairman and chief executive officer said, "This quarter we returned to our long-term targeted margin profitability and operating income ranges and generated significant cash flow from operations."