A significant producer of disk storage, Seagate Technology Holdings plc, today reported fiscal third-quarter revenues that just barely surpassed the low end of its guidance.
In addition, the business unveiled a brand-new cost-cutting restructuring plan. Seagate wants to save USD 200 million a year on operating costs. The business reported USD 1.86 billion in sales at the end of its third fiscal quarter, which ended on March 31. Although it’s a significant decrease from the USD 2.8 billion that Seagate reported a year ago, the decline is expected.
The company’s projected sales range for the third quarter was between USD 1.85 billion and USD 2.15 billion, so third-quarter revenue fell within that range.
Read More: Seagate reports quarterly revenue drop and cost cuts amid storage market slowdown
Check Out The New Enterprisetalk Podcast. For more such updates follow us on Google News Enterprisetalk News.
The platform covers e entire enterprise technology space- including emerging technologies like RPA, AI, cloud, automation, and the entire gamut of digital transformation tools, strategies and management decisions.
