Electronics maker hopes to use the proceeds to help pay off some of $2.14 billion in convertible debt, which is due in September.
The PC maker posts earnings a penny above analyst estimates, reporting earnings per share of 37 cents on revenue of $2.14 billion for the quarter.
Seagate Technology reported revenue and net income of $2.06 billion and $129 million, or $1.06 per share respectively, for its quarter ending September 27. This compares with revenue of $2.14 billion and net income of $121 million, or $1.05 per share respectively for the same quarter last year. The results for the quarter included a charge of $2.8 million for research and development in connection with the acquisition of Sytron.