Seagate Technology PLC Q2 adjusted earnings Beat Estimates

(RTTNews) - Seagate Technology PLC (STX) announced a profit for second quarter that fell from last year.

The company's profit came in at $280 million, or $1.12 per share. This compares with $318 million, or $1.20 per share, in last year's second quarter.

Excluding items, Seagate Technology PLC reported adjusted earnings of $323 million or $1.29 per share for the period.

Analysts had expected the company to earn $1.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.0% to $2.62 billion from $2.70 billion last year.

Seagate Technology PLC earnings at a glance:

-Earnings (Q2): $323 Mln. vs. $359 Mln. last year. -EPS (Q2): $1.29 vs. $1.35 last year. -Analysts Estimate: $1.13 -Revenue (Q2): $2.62 Bln vs. $2.70 Bln last year.

-Guidance: Next quarter EPS guidance: $1.15 - $1.45 Next quarter revenue guidance: $2.45 - $2.85 Bln