Flat earnings reported by Seagate Technology


Seagate Technology reported flat second-quarter fiscal 2020 earnings.

With operations in Oklahoma City, the hard-disk drive manufacturer had non-GAAP earnings of $1.35 a share which were down nearly 11% from a year earlier. Revenues were $2.696 billion which were down 0.7% from a year ago.

But the company’s production increased in the quarter. During the reported quarter, Seagate shipped 106.9 exabytes of hard disk drive (HDD) storage, with an average capacity of record 3.3 terabytes (TB) per drive. This marked year-over-year and sequential improvement of 22.3% and 8.7% in the total HDD exabytes shipments, respectively. Notably, average capacity improved from 2.9 TB and 2.4 TB reported in the prior quarter and the year-ago quarter, respectively.

The company shipped 71.3 exabytes for the mass capacity storage market (includes nearline and video and image applications as well as network-attached storage or NAS). This marked a sequential increase of 11.6% in exabytes shipments. However, average capacity per drive declined sequentially from 6.8 TB to 6.4 TB.