Storage options supplier Seagate Know-how plc (NASDAQ: STX) introduced fourth-quarter 2021 outcomes on Wednesday morning, reporting a double-digit enhance in earnings and revenues. The outcomes additionally topped the market’s projection.
The adjusted web revenue was $2.00 per share within the June quarter, up from final yr’s earnings of $1.20 per share and above the consensus estimates. Reported revenue rose to $482 million or $2.07 per share from $166 million or $0.64 per share within the fourth quarter of 2020.
The robust bottom-line efficiency displays a 20% enhance in revenues to $3.01 billion. The highest-line additionally exceeded the knowledgeable’s forecast.
Seagate’s shares gained in early Wednesday quickly after the earnings announcement, after closing the earlier session greater.
(this story will probably be up to date shortly)