Seagate profit drops 13 pct as demand for hard-disk drives falls

Tue Jan 28, 2014 5:00am IST

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

REUTERS - Seagate Technology Plc (STX.O) reported a 13 percent decline in quarterly profit as demand fell for its hard-disk drives due to declining personal computer sales.

Net income fell to $428 million, or $1.24 per share in the second quarter ended December 27, from $492 million, or $1.30 per share, a year earlier.

Revenue fell to $3.53 billion from $3.67 billion.

Seagate and rival Western Digital Corp (WDC.O) are tapping into the growing demand for products that help store data in the cloud and reducing their dependence on personal computer hard drives as consumers shift to smartphones and tablets.

(Reporting By Lehar Maan in Bangalore; Editing by Maju Samuel)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Internet Constitution

REUTERS SHOWCASE

Chip Company

Chip Company

Panasonic, Fujitsu to form chip design, development company  Full Article 

Huawei Shrugs

Huawei Shrugs

China's Huawei says reports of NSA spying won't impact growth  Full Article 

Google Mobile

Google Mobile

Google extends reach into mobile apps with new ad feature  Full Article 

Internet Conference

Internet Conference

Brazil conference will plot Internet's future post NSA spying   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage