Seagate stock has risen 4% since its fiscal 2Q18 results
Seagate Technology (STX) stock has increased more than 4% since the company announced its fiscal 2Q18 results on January 29, 2018. In the quarter ended December 2017, it reported revenue of $2.9 billion with a gross margin of 30.1% and an operating margin of 17%. Non-GAAP (generally accepted accounting principles) net income was $431 million with EPS (earnings per share) of $1.48. Gross profit was $884 million, and its operating profit was $494 million in fiscal 2Q18.
Seagate reported revenues of $2.9 billion in fiscal 2Q17, with net income of $412 million and EPS (earnings per share) of $1.38. Gross profit was $919 million with an operating profit of $462 million. While Seagate’s revenue was flat YoY (year-over-year), its gross profit fell 3.8% in 2Q18. Comparatively, operating profit and EPS rose 7% and 7.3% respectively, in 2Q18.
What analysts expect from Seagate in 2Q18
Analysts expected Seagate Technology to post revenue of $2.9 billion with EPS of $1.35. It marginally beat revenue estimates by 1.8% and its earnings estimate by more than 9.5% in fiscal 2Q18.
Seagate has beaten median analyst earnings estimate in three of the last four quarters. It beat estimates by 11.6% in 1Q18 when it reported EPS of $0.96. It also beat the estimates by 2.8% in fiscal 1Q18 with EPS of $1.10.