From Financial Modeling Prep: 2025-01-22 09:38:00

Seagate Technology PLC (NASDAQ:STX) exceeded expectations in its second quarter results, with adjusted earnings per share of $2.03 and a net income of $336 million. Revenue hit $2.33 billion, slightly above estimates, leading to a 7% increase in pre-market share value. The company’s focus on HAMR technology aims to meet the rising demand for high-capacity data storage.

Looking forward, Seagate forecasts third-quarter revenue of $2.10 billion with a margin of $150 million. Non-GAAP diluted earnings per share are projected to fall between $1.50 and $1.90. The company’s emphasis on HAMR technology positions it well to capitalize on the expanding data infrastructure needs of cloud providers and enterprises.

Seagate has begun production of HAMR-based Mozaic products during the December quarter, supplying a major cloud customer. The company’s progress in developing drives with capacities of up to 36 terabytes reflects its commitment to storage innovation. This advancement underscores Seagate’s dedication to meeting the evolving needs of data storage in the digital age.



Read more at Financial Modeling Prep:: Seagate Beats Expectations with Strong Q2 Performa…