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Seagate Technology (STX) shares rose over 18% in Wednesday's premarket activity after the company reported overnight stronger-than-expected fiscal Q3 earnings and revenue, as well as guidance for the next quarter that beat estimates.
The company reported fiscal Q3 non-GAAP earnings late Tuesday of $4.10 per diluted share, up from $1.90 a year earlier.
Analysts polled by FactSet expected $3.51.
Revenue for the quarter that ended April 3 was $3.11 billion, up from $2.16 billion a year earlier.
Analysts surveyed by FactSet expected $2.96 billion.
The company said it expects fiscal Q4 non-GAAP EPS of $5.00, plus or minus $0.20. Analysts expect $3.99.
Fiscal Q4 revenue is estimated to be $3.45 billion, plus or minus $100 million. Analysts expect $3.16 billion.
Price: $683.94, Change: $+104.91, Percent Change: +18.12%