Seagate Technology PLC (NASDAQ:STX) stock took a dive on Wednesday following the release of its earnings report for its fiscal third quarter of 2017.
Revenue reported by Seagate Technology PLC in its fiscal third quarter of 2017 was $2.67 billion. This is up from its revenue of $2.60 billion that was reported during its fiscal third quarter of 2016. However, it came in below analyst’ revenue estimate of $2.71 billion for the quarter.
During its fiscal third quarter of 2017, Seagate Technology PLC reported earnings per share of $1.10. This is an increase over its earnings per share of 22 cents reported during the same time last year. It also came in above Wall Street’s earnings per share estimate of $1.07 for its fiscal third quarter of the year.
Seagate Technology PLC reported operating income of $266 million during its fiscal third quarter of the year. This is higher than its operating income of $27 million that was reported during the same period of the year prior.
Net income reported by Seagate Technology PLC in its fiscal third quarter of 2017 was $194 million. This is better than the net loss of $21 million that was reported by STX during its fiscal third quarter of the previous year.
Seagate Technology PLC has also announced a quarterly cash dividend in its most recent earnings report. The technology company will be paying a dividend of 63 cents per share to investors on July 5, 2017. Shareholders must be on record as of June 21, 2017 to receive the dividend.
STX stock was down 15% as of Wednesday morning, but is up 10% year-to-date.
