Seagate Outperforms Estimates, Provides Robust Outlook

Seagate Technology Holdings plc (NASDAQ: STX) announced solid third-quarter fiscal results, surpassing analyst earnings expectations and projecting a positive outlook for the upcoming quarter. Adjusted earnings per share (EPS) reached $0.33, exceeding the consensus estimate of $0.29, while revenue amounted to $1.66 billion, slightly below the anticipated $1.68 billion. CEO Dave Mosley attributed the strong performance to improved cloud demand, operational efficiency, and effective pricing strategies. Despite a revenue decline compared to the same quarter last year, Seagate anticipates a promising fiscal fourth quarter with an adjusted EPS forecast of $0.70 and revenue projections exceeding analyst estimates. The company remains committed to shareholder returns, declaring a quarterly cash dividend of $0.70 per share.

Scroll to Top