Seagate Technology Q1 Earnings Call Highlights
- Seagate Technology reported fiscal first-quarter revenue of $4.2 billion, beating expectations, yet shares fell 27.16% over the past month as investors cited growing uncertainty around competition and AI funding.
- AI-Driven storage demand propelled revenue up 61% year-over-year, with data center customers accounting for $3.4 billion, or 81% of total quarterly revenue .
- Seagate ramped Mozaic 4 products utilizing Heat-Assisted Magnetic Recording technology to meet cloud demand, while inventory days increased to 97 from 83 due to staging for upcoming qualifications.
- Management retired $1.2 billion in debt during the September quarter, and the Board approved a quarterly dividend increase to $0.76 per share, reflecting confidence in sustainable cash generation.
- Seagate projects December quarter revenue of $4.8 billion, plus or minus $100 million, reflecting sustained demand momentum and an expected step-up in exabyte shipments .
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Seagate Technology Q1 Earnings Call Highlights
Seagate Technology (NASDAQ:STX) reported fiscal first-quarter 2027 results that exceeded its guidance, with revenue rising 61% year over year to $4.2 billion and non-GAAP earnings per share reaching a record $7.68. Chief Executive Officer Dave Mosley said the company benefited from sustained demand
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