Seagate Beats Q4 Expectations With $3.6B Revenue, Stock Rebounds 6.6% After Hours

On July 28, Seagate Technology (STX-US) reported Q4 revenue of $3.6 billion and earnings per share (EPS) of $5.71, both exceeding analyst estimates of $3.5 billion and $5.10, respectively. The company's shares rebounded 6.6% in after-hours trading. For fiscal year 2026, Seagate posted annual revenue of $12.2 billion versus the expected $12 billion, with a year-over-year increase of 34% and free cash flow hitting a record $3.1 billion.

CEO Dave Mosley stated that strong cloud data center demand and disciplined execution drove the results, adding that the company expects growth momentum to continue into fiscal 2027. He noted that artificial intelligence is driving data generation, with large-capacity storage demand anticipated to sustain long-term growth. Peer storage companies also posted after-hours gains, including Western Digital up 2.5% and Micron up 1.4%.