Despite the hard drive shortage in Thailand, Seagate managed to pull ahead of Wall Street expectations.
Seagate reported a second fiscal quarter net income of $563 million, or $1.28 a share (statement). Non-GAAP earnings were $1.32 a share on a revenue of $3.2 billion.
Wall Street was expecting Seagate to report second fiscal quarter earnings of $1.06 a share on revenue of $3.14 billion.
Seagate also shipped 47 million disk drives during the last quarter.
In November, Seagate upped its sales outlook for the December quarter to 43 million units shipped with revenue of $2.8 billion. However, some experts believe that the hard drive shortage is going to have a wider effect upon manufacturers and partners in early 2012.
For the outlook, Seagate is predicting a revenue of $3.75 billion excluding Samsung. Wall Street is expecting revenue to reach $3.32 billion.
Related:
- Seagate boosting GoFlex Satellite wireless drive without adjusting hardware
- CES 2012: New Seagate drives support Thunderbolt, Verizon's 4G network
- With hard drives in short supply, Seagate and Western Digital slash warranties
- Intel cuts sales outlook, blames hard drive shortage
- Seagate wins $525 million from Western Digital