DUBLIN (AP) _ Seagate Technology PLC (STX) on Wednesday reported fiscal third-quarter net income of $194 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Dublin-based company said it had net income of 65 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.10 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The electronic storage maker posted revenue of $2.67 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $2.71 billion.
Seagate shares have risen 32 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 7 percent. The stock has increased 92 percent in the last 12 months.
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