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Seagate (STX) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Seagate (STX - Free Report) reported revenue of $1.45 billion, down 28.6% over the same period last year. EPS came in at -$0.22, compared to $0.48 in the year-ago quarter.
The reported revenue represents a surprise of -2.10% over the Zacks Consensus Estimate of $1.49 billion. With the consensus EPS estimate being -$0.20, the EPS surprise was -10.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Seagate performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Capacity Shipped - Mass capacity: 79.2 EB versus the two-analyst average estimate of 73.28 EB.
Capacity Shipped - Total: 89.6 EB compared to the 87.87 EB average estimate based on two analysts.
Capacity Shipped - Legacy: 10.4 EB compared to the 14.59 EB average estimate based on two analysts.
Revenue by Product Line- HDD: $1.30 billion versus $1.34 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -26.9% change.
Revenue by Product Line- Enterprise Data Solutions, SSD & Other: $159 million compared to the $207.64 million average estimate based on two analysts. The reported number represents a change of -39.5% year over year.
Shares of Seagate have returned +4.4% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Seagate (STX) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Seagate (STX - Free Report) reported revenue of $1.45 billion, down 28.6% over the same period last year. EPS came in at -$0.22, compared to $0.48 in the year-ago quarter.
The reported revenue represents a surprise of -2.10% over the Zacks Consensus Estimate of $1.49 billion. With the consensus EPS estimate being -$0.20, the EPS surprise was -10.00%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Seagate performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Capacity Shipped - Mass capacity: 79.2 EB versus the two-analyst average estimate of 73.28 EB.
- Capacity Shipped - Total: 89.6 EB compared to the 87.87 EB average estimate based on two analysts.
- Capacity Shipped - Legacy: 10.4 EB compared to the 14.59 EB average estimate based on two analysts.
- Revenue by Product Line- HDD: $1.30 billion versus $1.34 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -26.9% change.
- Revenue by Product Line- Enterprise Data Solutions, SSD & Other: $159 million compared to the $207.64 million average estimate based on two analysts. The reported number represents a change of -39.5% year over year.
View all Key Company Metrics for Seagate here>>>Shares of Seagate have returned +4.4% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.