DUBLIN (AP) _ Seagate Technology PLC (STX) on Thursday reported fiscal second-quarter net income of $280 million.
The Dublin-based company said it had profit of $1.12 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.29 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The electronic storage maker posted revenue of $2.62 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $2.55 billion.
For the current quarter ending in April, Seagate expects its per-share earnings to range from $1.15 to $1.45. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.31.
The company said it expects revenue in the range of $2.45 billion to $2.85 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $2.67 billion.
Seagate shares have risen slightly more than 1% since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 3%. In the final minutes of trading on Thursday, shares hit $62.94, an increase of 3% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STX at https://www.zacks.com/ap/STX
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