Net income for the year decreased from $ 384 million to $ 318 million.
Seagate Technology released a report for the second quarter of fiscal year 2020, which ended on January 3.
During the reporting period, revenue of $ 2.696 billion was received. Over the year, this figure has not changed much – in the second quarter of fiscal 2019, revenue was equal to $ 2.715 billion. Gross profit for the year decreased from 29.2% to 28.1%. Net income also decreased – from $ 384 million to $ 318 million.
During the quarter, the company paid dividends to shareholders in the amount of $ 165 million and bought back their shares in the amount of $ 150 million. At the end of the quarter, Seagate had $ 1.7 billion in cash and cash equivalents at its disposal.