Seagate Technology PLC Reports 77% Fall In Q3 Earnings

(RTTNews) - Seagate Technology PLC (STX) reported earnings for third quarter that retreated from last year.

The company said its profit declined to $66 million, or $0.22 per share. This was lower than $291 million, or $0.88 per share, in last year's third quarter.

The company said revenue for the quarter fell 21.9% to $2.60 billion. This was down from $3.33 billion last year.

Seagate Technology PLC earnings at a glance:

-Earnings (Q3): $66 Mln. vs. $291 Mln. last year. -Earnings Decline (Y-o-Y): -77.3% -EPS (Q3): $0.22 vs. $0.88 last year. -EPS Decline (Y-o-Y): -75.0% -Revenue (Q3): $2.60 Bln vs. $3.33 Bln last year. -Revenue Change (Y-o-Y): -21.9%