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What: Shares of hard-disk-drive maker Seagate Technology
So what: Revenue added up to $3.2 billion, leading to earnings per share of $1.32. The company moved 47 million disk drives during the quarter, as the sector is still recovering from the floods in Thailand last year. Seagate just closed its acquisition of Samsung's HDD business during the quarter, and has recognized $5 million in amortization of intangibles this quarter, with another $35 million expected in the third quarter.
Now what: The HDD shortages have helped Seagate boost pricing, while its production wasn't hurt as badly as rival Western Digital
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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Western Digital. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.