Seagate raises second-quarter revenue forecast

(Reuters) - Hard drive maker Seagate Technology Plc said it now expects to report higher second-quarter revenue than its previous forecast, sending its shares up 6 percent.

The company expects at least $3.6 billion in revenue for the quarter ended December 28, higher than its previous forecast of about $3.5 billion.

Seagate expects second-quarter gross margin of more than 27 percent.

Shares of the company were trading at $32 in extended trade, after closing at $31.39 on the Nasdaq on Tuesday.

(Reporting by Himank Sharma in Bangalore; Editing by Sriraj Kalluvila)

Source: http://news.yahoo.com/seagate-raises-second-quarter-revenue-forecast-212522212--finance.html

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