(Updates with the stock move in the headline and the first paragraph.)

Seagate Technology's (STX) shares were up more than 10% in recent premarket activity on Wednesday after the tech giant reported overnight fiscal Q2 earnings and sales above market expectations, and the Q1 outlook also beat consensus.

The company reported fiscal Q2 non-GAAP earnings late Tuesday of $3.11 per diluted share, up from $2.03 a year earlier.

Analysts polled by FactSet expected $2.83.

Revenue for the quarter that ended Jan. 2 was $2.83 billion, up from $2.33 billion a year earlier.

Analysts surveyed by FactSet expected $2.74 billion.

The company said it expects fiscal Q3 non-GAAP earnings of $3.40 plus or minus $0.20 per diluted share on revenue of $2.90 billion plus or minus $100 million.

Analysts polled by FactSet expect EPS of $2.99 a share on sales of $2.78 billion.

The company maintained its quarterly dividend at $0.74 per share, payable April 8 to shareholders of record March 25