Seagate Technology Stocks Slide On Disappointing Q4 Results

Seagate Technology Holdings plc (STX) shares are down more than 6 percent on Thursday morning trade after the company reported a sharp decline in fourth quarter results.

The company reported quarterly net profit of $276 million, down from $482 million last year. On a per share basis, earnings declined to $1.27 from $2.07 a year ago.

Revenue for the quarter were $2.628 billion, compared to $3.013 billion last year.
Currently, shares are $78.96, down 5.56 percent from the previous close of $83.61 on a volume of 3,201,719.

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