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Analysts Expect Seagate’s Revenue to Rise 2.4% in Fiscal 3Q18

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Apr. 17 2018, Updated 6:31 a.m. ET

Revenue of $2.74 billion estimated by analysts

Storage company Seagate (STX) is expected to announce its fiscal 3Q18 results on May 1, 2018. Analysts expect Seagate to post revenue of $2.74 billion in fiscal 3Q18, a rise of 2.4% YoY (year-over-year) compared to its revenue of $2.67 billion in fiscal 3Q17. Wall Street has a high revenue estimate of $2.81 billion and a low estimate of $2.64 billion for the quarter, which ended in March 2018.

Comparatively, analysts expect Seagate to post non-GAAP (generally accepted accounting principles) EPS (earnings per share) of $1.32 in fiscal 3Q18 with a high EPS estimate of $1.45 and a low estimate of $1.2. Analysts expect Seagate’s EPS to rise nearly 20% YoY in fiscal 3Q18 from $1.1 in fiscal 3Q17.

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Seagate beat estimates in three of the last four quarters

As we can see above, Seagate beat analysts’ EPS estimates in three of the last four quarters. In fiscal 2Q18, Seagate reported EPS of $1.48, 9.6% higher than analysts’ estimate of $1.35. It posted EPS of $0.96 and $1.1 in fiscals 1Q18 and 3Q17, beating estimates by 11.6% and 2.8%, respectively.

Seagate reported EPS of $0.65 in fiscal 4Q17, which was 33.7% below analysts’ estimate of $0.98. Seagate has a market cap of $16.7 billion. Peers Western Digital (WDC), NetApp (NTAP), and IBM (IBM) have market caps of $26.7 billion, $17.7 billion, and $143 billion, respectively.

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