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

Tue Jan 28, 2014 5:00am IST

Related Topics

Stocks

   

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

New Windows

Reuters Showcase

Netflix Deal

Netflix Deal

Netflix 'Crouching Tiger' deal incurs wrath of theater chains.  Full Article 

PayPal Spinoff

PayPal Spinoff

EBay follows Icahn's advice, plans PayPal spinoff in 2015.  Full Article 

Oracle Convention

Oracle Convention

Larry Ellison still the top draw at Oracle's mega-convention  Full Article 

iPhone 6 in China

iPhone 6 in China

With iPhone 6 approved in China, Apple suppliers ready for demand.  Full Article 

Tax Rules

Tax Rules

EU says Ireland swapped Apple tax deal for jobs.  Full Article 

Music Services

Music Services

Google searches for right note in online music business.  Full Article 

Morgan at Daily Mail

Morgan at Daily Mail

Britain's Daily Mail website hires Piers Morgan as U.S. editor-at-large.  Full Article 

Reuters India Mobile

Reuters India Mobile

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