Seagate Technology shares fall 6% despite strong Q1 results
STX Seagate Technology Holdings Plc
$551.96 +10.04%
View chart & analysis → - 1Seagate Technology reported Q1 adjusted earnings per share (EPS) of $7.68, exceeding the analyst estimate of $7.39.
- 2Seagate achieved Q1 revenue of $4.2 billion, representing a 61% year-over-year revenue growth rate.
- 3Seagate Technology shares fell 6% due to profit-taking following recent stock price increases.
So what's the key point?
Seagate Technology earned more profit than experts expected. However, the stock price fell 6% as people sold their shares to lock in profits after recent price gains.
Source Investor's Business Daily +4 · View original ↗
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