Seagate Technology delivered a robust financial performance for its fiscal first quarter 2027 (reported late October 2026), fueled by surging data center demand and high-capacity storage adoption:
* Strong Financial Results:
Q1 revenue reached $4.233 billion (up ~61% year-over-year from $2.629 billion). Non-GAAP gross margin expanded to a record 57.8% (vs. 40.1% a year ago), and non-GAAP diluted EPS surged to $7.68 (up from $2.61). Free cash flow hit an impressive $1.5 billion.
* Capital Allocation & Dividend:
Capitalizing on exceptional cash generation and a strengthened balance sheet, Seagate increased its quarterly cash dividend by approximately 3% to $0.76 per share, while retiring $1.2 billion in debt and returning $568 million to shareholders via dividends and share repurchases.
* Product & Technology Expansion:
Seagate recently launched the FireCuda Forge drive, its first storage solution powered by the new Alkemi intelligent storage platform combining SSD responsiveness with high-capacity HDD storage (available in 8TB and 20TB tiers). Meanwhile, its Edge IoT segment grew 52% year-over-year to $784 million.
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* Strong Financial Results:
Q1 revenue reached $4.233 billion (up ~61% year-over-year from $2.629 billion). Non-GAAP gross margin expanded to a record 57.8% (vs. 40.1% a year ago), and non-GAAP diluted EPS surged to $7.68 (up from $2.61). Free cash flow hit an impressive $1.5 billion.
* Capital Allocation & Dividend:
Capitalizing on exceptional cash generation and a strengthened balance sheet, Seagate increased its quarterly cash dividend by approximately 3% to $0.76 per share, while retiring $1.2 billion in debt and returning $568 million to shareholders via dividends and share repurchases.
* Product & Technology Expansion:
Seagate recently launched the FireCuda Forge drive, its first storage solution powered by the new Alkemi intelligent storage platform combining SSD responsiveness with high-capacity HDD storage (available in 8TB and 20TB tiers). Meanwhile, its Edge IoT segment grew 52% year-over-year to $784 million.
$STXB $STX $STX .US
#CoinVahini #DataCenter #Seagate #EarningsReport #DividendGrowth