- At one point down over 4% AH due to its FQ4 revenue miss, Seagate (NASDAQ:STX) is down just 0.7% after guiding on its CC for FQ1 revenue of at least $3.55B. That's slightly better than a $3.54B consensus.
- Seagate estimates the total addressable market (TAM) for hard drives was 133M-136M units in FQ4, roughly in-line with guidance. The company estimates its share slipped to ~39% from 40% in FQ3 and a year ago. Average drive capacity +3% Q/Q and +11% Y/Y to 945GB.
- FQ4 gross margin was 28.5%, flat Q/Q and +50 bps Y/Y. Opex +10% Y/Y to $509M. Just $26M was spent on buybacks.
- Enterprise drive shipments (higher-margin) -10% Y/Y to 7.4M. Desktop drives -2% to 18.6M, notebooks +4% to 16.8M, consumer electronics -16% to 5.1M, branded drives (also high-margin) flat at 4.8M.
- Free cash flow was $446M in FQ4, and $2B in FY14.
- FQ4 results, PR, earnings slides (.pdf)
Check out Seeking Alpha’s new Earnings Center »
From other sites
at CNBC.com (Jan 16, 2015)
Video at CNBC.com (Jan 16, 2015)
at CNBC.com (Jan 12, 2015)
at CNBC.com (Dec 2, 2014)
Video at CNBC.com (Dec 2, 2014)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs