Seagate Technologies (NASDAQ: STX) reported their financial results for the quarter ending September 29th, 2017. Seagate is largely known for manufacturing HDDs and external hard drives, a sector that has seen a decline over the last few years in part due to decreased pricing and availability of SSDs. Flash-based memory prices are high right now, but are overall significantly lower than when the technology was being introduced to the mainstream market. For Q1 2018, Seagate reported revenue of $2.6 Billion, gross margin was reported at 28.0%, and net income was listed at $181 Million with diluted earnings per share of $0.62. For reference, last year’s financial results in Q1 2017, Seagate showed revenue of $2.8 Billion, gross margin of 28.6%, net income of $167 Million, and diluted earnings per share of $0.55.
