Seagate's Q2 earnings rise on strong demand

Seagate Technology's fiscal second-quarter results beat expectations as it shipped a record number of hard drives.

The company reported earnings of $533m (£329m), or $1.03 a share, on revenue of $3.03bn. Gross margins were 30.5 percent.

Wall Street had expected earnings of $0.62 a share on revenue of $2.85bn. Seagate's results were even more impressive when compared to a year ago, when the company reported a Q2 net loss of $2.8bn on revenue of $2.27bn.

See Seagate second-quarter earnings shine; outlook raised on strong demand on ZDNet.com for the full story.