Reuters Seagate net up on consumer electronics Wednesday January 18, 4:12 pm ET
SAN FRANCISCO (Reuters) - Seagate Technology (NYSE:STX - News), the biggest U.S. hard-disk drive maker, on Wednesday said quarterly profit climbed amid growing demand for consumer electronics and notebook computers. The company said its fiscal second quarter net income climbed to $287 million, or 57 cents per share, from $144 million, or 29 cents per share, a year earlier.
Revenue rose to $2.3 billion from $1.85 billion. The company's second quarter ended December 30.
Seagate of Scotts Valley, California, has been expanding in consumer electronics and mobile phones, its fastest-growing markets, and last month said it would buy smaller competitor Maxtor Corp. to cement its No. 1 position in the hard-disk drive market
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