Shares of Technology Seagate Plc. STX,
fell nearly 5% in Thursday’s extended session after the company reported fiscal profit and sales in the second quarter ahead of expectations and guidance for the third quarter around Wall Street views. The data storage company said it earned $ 280 million, or $ 1.12 a share, in the quarter, compared to $ 1.20 a share in the quarter a year ago. Adjusted for one-time items, Seagate earned $ 1.29 a share, compared to a $ 1.35 share a year ago. Revenue fell to $ 2.62 billion, up from $ 2.70 billion a year ago. Analysts surveyed by FactSet expected adjusted earnings of $ 1.13 billion on sales of $ 2.57 billion. Seagate said it expects third-quarter fiscal revenue of about $ 2.65 billion, give or take $ 200 million, and adjusted EPS for about $ 1.30, plus or minus 15 cents. The analysts surveyed by FactSet expect adjusted third-quarter fiscal revenue of $ 1.28 a share on sales of $ 2.64 billion. Seagate said it has experienced “widespread development” across markets and regions and that “strong consumer demand” is strengthening its results. Shares finished the day trading consistently up 2.5%.