Seagate soars on strong quarterly numbers, guidance far above expectations
Seagate Technology Holdings ripped late Tuesday after the maker of hard disk drives, relatively cheap data storage devices, reported better-than-expected quarterly numbers and guidance in its earnings report. Seagate reported:
Revenue of $3.11 billion vs. the $2.96 billion expectation from Wall Street analysts, per FactSet.
Adjusted earnings per share of $4.10 vs. the $3.51 anticipated on the Street.
EPS guidance of between $4.80 and $5.20 (midpoint $5.00) for the current quarter — which ends in June — vs. the $3.99 expectation.
Sales guidance of between $3.35 billion and $3.55 billion ($3.45 midpoint) for the current quarter vs. Wall Street’s expectation for $3.16 billion.
The sudden explosion of Seagate shares — and those of its disk-making rival, Western Digital — has been one of the more surprising outgrowths of the AI boom.
A little over a year ago, on April 8, 2025, Seagate shares had been essentially flat for over a decade. (They ended that day up 0.1% since the end of 2014.) Since then, they’re up roughly 800%, as the reality of seemingly endless AI-related demand for data storage has become plain.
Perhaps most impressive is that the pace of the gains is quickening. If the after-hours gains hold, Seagate is on track for April to be its the best month since October 2011.
