Seagate: ~76 cents of every new revenue dollar fell to net income, stock still fell ~7%
Seagate ($STX) reported fiscal Q1 last night: revenue $4.23B, up 61% from $2.63B a year ago, plus a raised guide. The stock still dropped ~7% after hours.
The wild part: net income went from $549M to $1.76B. That's ~76 cents of every extra revenue dollar falling to the bottom line.
How much better can a hard drive cycle get?
Sources: @StockMKTNewz: Seagate $STX stock is down by 6.9% in after hours following its earnings · @TrendSpider: STX double beat and raise, adj EPS $7.68 vs $7.42, sales $4.233B vs $4.138B, stock -7.38%
Not financial advice. For informational and educational purposes only.
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