Seagate updated its financial outlook for fiscal second quarter 2012 on Wednesday afternoon, stating it shipped approximately 47 million disk drives, which included approximately 700,000 Samsung disk drives.
Revenue is expected to be between $3.1 billion and $3.2 billion, the company said. Analysts had projected revenue of $2.79 billion on average, according to Bloomberg. Seagate completed the acquisition of Samsung's hard disk drive business in December. Supply will not catch up with demand anytime soon. "The company continues to believe that during calendar 2012 unit demand will exceed supply," Seagate said.
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