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Why Seagate Stock Soared 10% Today

Rich Smith, The Motley Fool
·2-min read
Why Seagate Stock Soared 10% Today

Shares of Seagate Technology (NASDAQ: STX) exploded nearly 10% higher Thursday -- up 9.7% as of 12:35 p.m. ET -- after the maker of computer memory crushed analyst projections for fiscal Q2 2023 earnings last night. It's also quite a comedown from the $2.23 per share in GAAP profits that Seagate earned in last year's Q2. On the plus side, the company said it generated positive free cash flow of $172 million in the second quarter, bringing its total year to date to $284 million in free cash flow.

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