At the Morgan Stanley Technology, Media & Telecom Conference, Seagate CFO Gianluca Romano said that Q3 is coming out as the company expected, and that the company has “confidence” in the midpoint of its guidance. Romano added that the guidance implies a good improvement in its gross margin sequentailly from the previous quarter. In January, the company guided for Q3 earnings per share of 5c-45c on revenue of $1.5B-$1.8B. Wall Street currently expects Seagate to report Q3 EPS of 27c on revenue of $1.67B.
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