Seagate Reports 48% Revenue Surge in Fiscal Q4, Beats EPS Estimates on July 28

According to Seagate Technology's fiscal fourth-quarter results released on July 28, the storage company reported revenue of $3.63 billion, up 48% year over year and beating analyst estimates near $3.50 billion. Non-GAAP earnings per share came in at $5.71, exceeding expectations of $5.10, while non-GAAP gross margin jumped to 52.7% from 37.9% a year earlier, signaling improved profitability per unit.

Seagate also posted record free cash flow of $3.1 billion for the full fiscal year. CEO Dave Mosley attributed the results to robust cloud data center demand, noting the company expects $4.1 billion in revenue next quarter, well above analyst estimates near $3.8 billion.