Overview

• Seagate Technology forecasts Q3 revenue to be $1.65 billion, in line with market estimates, signaling recovery in the PC and cloud market.
• The company reported Q2 revenue of $1.56 billion, slightly above analysts' average estimate of $1.55 billion.
• Seagate returned to profitability in Q2 with adjusted earnings of 12 cents per share, after three quarters of losses.
• The company expects Q3 adjusted earnings per share to be between 5 cents and 45 cents.
• Seagate is trying to increase demand by offering hard-disk drives that provide mass storage at a lower cost than competitors.