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Seagate Technology PLC Q1 adjusted earnings Beat Estimates

Seagate Technology PLC (STX) revealed earnings for its first quarter that rose from last year.

The company's profit came in at $233 million, or $0.86 per share. This compares with $200 million, or $0.74 per share, in last year's first quarter.

Excluding items, Seagate Technology PLC reported adjusted earnings of $242 million or $0.93 per share for the period.

Analysts had expected the company to earn $0.88 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.5% to $2.31 billion from $2.58 billion last year.

Seagate Technology PLC earnings at a glance:

-Earnings (Q1): $242 Mln. vs. $278 Mln. last year.
-EPS (Q1): $0.93 vs. $1.03 last year.
-Analysts Estimate: $0.88
-Revenue (Q1): $2.31 Bln vs. $2.58 Bln last year.

Next quarter EPS guidance: $0.95 - $1.25
Next quarter revenue guidance: $2.35 - $2.75 Bln

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