Seagate Technology Holdings PLC (STX)

The company now

Seagate reported fiscal first quarter 2027 revenue of $4,233 million for the quarter ended 2 October 2026, against $2,629 million a year earlier 1. Gross margin, the share of revenue left after production costs, was 57.3 percent on a GAAP basis 1. Net income was $1,761 million, or $7.59 per diluted share 1.

Revenue grew $1.6 billion from the year-earlier quarter, the company says, primarily because of favorable pricing actions and more nearline exabytes shipped, which are the high-capacity drives cloud customers use 2. In all it shipped 220 exabytes in the quarter 2.

Operations produced $1.7 billion, about $1.2 billion of debt was retired, and $568 million went back to shareholders through dividends and share repurchases 1. After the quarter another $750 million of principal was retired, leaving gross debt at $1.6 billion 1.

For the fiscal second quarter 2027 the company guided to revenue of $4.8 billion, plus or minus $100 million, and non-GAAP diluted EPS of $9.20, plus or minus $0.20 1. The open question is how long demand and pricing last: chief executive Dave Mosley pointed to a strengthening demand environment and a multi-year growth phase 1.

As of Nov 3, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.