By Josh Beckerman
Shares of Seagate Technology Holdings rose 8.9% to $88.90 as it reported adjusted earnings at the high end of guidance.
The data-storage company on Tuesday posted adjusted per-share earnings of $1.90 for the third quarter ended March 28, up from 33 cents a year earlier. Revenue rose to $2.16 billion from $1.66 billion. In January, it had projected adjusted earnings per share of $1.70, plus or minus 20 cents.
Seagate, a beneficiary of AI-related data-center growth, said its results reflect structural enhancements and a healthy supply/demand environment.
Seagate's fourth-quarter guidance, which reflects minimal expected impact from global tariff policies announced so far, is for adjusted earnings per share of $2.40, plus or minus 20 cents, and revenue of $2.4 billion, plus or minus $150 million.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 29, 2025 18:38 ET (22:38 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.