Seagate Technology Issues Q3 Guidance

(RTTNews) - Seagate Technology plc (STX) said, for its third quarter, the company projects: non-GAAP earnings per share of $1.35, plus or minus 7%; and revenue of $2.7 billion, plus or minus 7%. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.27 on revenue of $2.59 billion. Analysts' estimates typically exclude special items.

For the second-quarter, non-GAAP earnings per share was $1.35 compared to $1.51, prior year. Non-GAAP revenue declined to $2.70 billion from $2.72 billion, last year. The Board of Directors declared a quarterly cash dividend of $0.65 per share, which will be payable on April 8, 2020 to shareholders of record as of the close of business on March 25, 2020.