Seagate forecasts first-quarter revenue above estimates, shares jump

Seagate Technology forecast first-quarter revenue above Wall Street estimates on Tuesday, driven by increased demand for memory chips from personal computing and data center clients, sending its shares up 6.8% in extended trading.

The Dublin, Ireland-based computer hard drive maker has benefited from a recovery in the memory devices market, after it took a hit last year when PC makers cut back on chip orders amid soft sales.