Despite the tight worldwide economic crunch, Seagate announced that it expects to a good showing for its quarterly revenue because of an increased demand for hard drives.
Based on its preliminary third quarter results, Seagate said that it expects to post $2.1 billion in revenue for the third quarter ending April 3. This is bigger than its expected target of between $1.6 to $2 billion.
Seagate is citing the good performance to the increased market demand for 2.5 inch and 3.5 inch ATA drives. The company is now expecting that its fourth quarter earnings will again exceed expectations with earning of between $1.9 billion to $2.2 billion.