Seagate Technology PLC Q4 adjusted earnings Beat Estimates

(RTTNews) - Seagate Technology PLC (STX) revealed earnings for its fourth quarter that advanced from last year.

The company's earnings totaled $983 million, or $3.54 per share. This compares with $461 million, or $1.57 per share, in last year's fourth quarter.

Excluding items, Seagate Technology PLC reported adjusted earnings of $239 million or $0.86 per share for the period.

Analysts had expected the company to earn $0.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.5% to $2.37 billion from $2.84 billion last year.

Seagate Technology PLC earnings at a glance:

-Earnings (Q4): $239 Mln. vs. $475 Mln. last year. -EPS (Q4): $0.86 vs. $1.62 last year. -Analysts Estimate: $0.84 -Revenue (Q4): $2.37 Bln vs. $2.84 Bln last year.