Seagate Technology Q3 Profit Decreases - Quick Facts

(RTTNews) - Seagate Technology plc (STX) reported that its third-quarter net income to company decreased to $395 million from $416 million, a year ago. Earnings per share was $1.17, compared to $1.13. Non-GAAP net income was $453 million or $1.34 per share, for the quarter.

On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $1.25 for the quarter. Analysts' estimates typically exclude special items.

Revenue decreased to $3.41 billion from $3.53 billion. Analysts expected revenue of $3.42 billion for the quarter.

The Board of Seagate has approved a quarterly cash dividend of $0.43 per share, which will be payable on May 28, 2014 to shareholders of record as of the close of business on May 14, 2014.