Seagate Tech beats by $0.13, beats on revs; Board approves $0.63 per share dividend.
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- Reports Q3 (Mar) earnings of $1.46 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus of $1.33; revenues rose 4.8% year/year to $2.8 bln vs the $2.75 bln Capital IQ Consensus.
- Reported gross margin of 30.8%, net income of $424 million
- Board has approved a quarterly cash dividend of $0.63 per share, which will be payable on July 5, 2018 to shareholders of record as of the close of business on June 20, 2018.
CFO: we executed well this quarter against backdrop of strong market demand - earnings call - Expects continued opportunities for our mass storage portfolio