Seagate: Fiscal Q1 Earnings Snapshot

DUBLIN (AP) — DUBLIN (AP) — Seagate Technology Holdings plc (STX) on Thursday reported a loss of $184 million in its fiscal first quarter.

The Dublin-based company said it had a loss of 88 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 22 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.

The electronic storage maker posted revenue of $1.45 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $1.49 billion.

For the current quarter ending in December, Seagate expects its results to range from a loss of 30 cents per share to earnings of 10 cents per share.

The company said it expects revenue in the range of $1.4 billion to $1.7 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $2.32 billion.

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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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