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In monetary terms, Seagate earned $US344 million compared with $US212 million for the same period a year ago. Revenue also grew 10 per cent to $US3.1 billion from $US2.8 billion last year.

The company sold some 43 million disk drives in the third quarter, up 9 per cent from the 39.4 million for the same period last year.

Seagate hard drive shipments jumped 20 per cent amid strong demand for storage from both consumers and businesses – a sure sign that despite the constant calls of pessimism within the IT sector, the sector, especially the mobile component remains strong and adverse to global trends downwards.

In an interview published on the company's website, Bill Watkins, Seagate CEO said: "…We continue to believe that there is significant opportunity in the notebook and retail markets – two areas where the company recently has not performed to expectation. We expect to see improved performance in these areas in the June quarter and through the calendar year."