Seagate Beats Estimates on Cloud Demand Surge and HAMR Tech Adoption

Key Facts

1Seagate reported fiscal Q4 non-GAAP EPS of $5.71, beating consensus estimates by $0.62.

2Company revenue grew 48.8% year-over-year, with gross margins surging to 52.7%.

Seagate Technology Holdings reported fiscal Q4 non-GAAP EPS of $5.71, beating consensus estimates by $0.62. Seeking Alpha reported that company revenue grew 48.8% year-over-year, while gross margins surged to 52.7%.

The performance was driven by robust cloud demand and the successful adoption of the Mozaic platform and HAMR drives. The transition to higher-capacity storage and disciplined pricing has significantly boosted earnings visibility, with STX shares closing at $916.83 on September 25, 2026.