SEAGATE TECHNOLOGY Reports Unchanged Q2 FY2023 Earnings Results with Total Revenue of -33.0 Million and Net Income of 1887.0 Million.

Earnings Overview

On January 25, 2023, SEAGATE TECHNOLOGY ($NASDAQ:STX) reported its earnings results for the second quarter of FY2023, which showed total revenue of USD -33.0 million and net income of USD 1887.0 million, both remaining the same as of December 31, 2022.

Stock Price

However, the company’s net income of 1887.0 million was unchanged from the same period last year. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Seagate Technology. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Seagate Technology. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Seagate Technology. More…

Key Ratios Snapshot

Some of the financial key ratios for Seagate Technology are shown below. More…

Analysis

GoodWhale has conducted an in-depth analysis of SEAGATE TECHNOLOGY and has determined that it is a medium risk investment when considering both financial and business aspects. This means that investors should be aware of potential risks associated with this investment. In addition, our analysis has uncovered two risk warnings in SEAGATE TECHNOLOGY’s balance sheet, both of which are non financial in nature. These warnings are indicators that potential investors should be aware of before investing. To gain more information about SEAGATE TECHNOLOGY and these warnings, be sure to register on GoodWhale.com to get the full details. More…

Peers

Its major competitors include Western Digital Corp, Micron Technology Inc, and NVIDIA Corp. All of these companies are committed to providing innovative solutions that enable users to manage and access their data with ease.

– Western Digital Corp ($NASDAQ:WDC)

Western Digital Corp is a leading storage technology company that designs, manufactures, and sells data storage solutions. The company has a market cap of 11.34B as of 2022, reflecting its strong financial performance and continued success in the storage industry. Western Digital’s Return on Equity (ROE) is 9.22%, which is higher than the industry average. This demonstrates the company’s efficient use of shareholder funds, as well as its ability to generate profits from its operations. Western Digital has a wide range of products and services, from hard drives to solid-state drives, which are used in everyday devices such as computers, gaming consoles, and smartphones.

– Micron Technology Inc ($NASDAQ:MU)

Micron Technology Inc is a leading global provider of semiconductor memory solutions, systems, and technologies. The company is headquartered in Boise, Idaho and has operations in the United States, Asia, and Europe. As of 2022, Micron Technology Inc had a market capitalization of 59.86B and a Return on Equity (ROE) of 12.3%. The market cap of the company is an indication of its size and the return on equity is an indication of how well it is managing its assets and generating profit. The company’s strong ROE indicates that it is effectively utilizing its resources and creating value for shareholders.

– NVIDIA Corp ($NASDAQ:NVDA)

NVIDIA Corporation is a leading global technology company that designs, manufactures, and markets graphics processing units (GPUs) for gaming, professional visualization, data centers, and artificial intelligence (AI). As of 2022, NVIDIA has a market cap of 422.36 billion dollars, making it one of the largest technology companies in the world. The company has also achieved an impressive Return on Equity (ROE) of 15.77%, indicating that it has proven to be a profitable investment. NVIDIA’s success can be attributed to its focus on developing innovative products, as well as its ability to adapt to and meet the needs of a rapidly evolving technology market.

Summary

SEAGATE TECHNOLOGY reported strong financial results for their second quarter of FY2023, with total revenue unchanged year-over-year at USD -33.0 million and net income of USD 1887.0 million. This indicates that the company is continuing to perform well despite challenging economic conditions. Investors should take note of this performance as it shows that the company is able to maintain its profitability while facing headwinds.

Additionally, SEAGATE TECHNOLOGY’s strong balance sheet and cash flow position are a plus for investors, providing them with the security of knowing their investments are stable and safe. Overall, SEAGATE TECHNOLOGY remains an attractive investment opportunity for investors seeking a long-term success.