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Seagate Technology reported fiscal third quarter 2024 financial results with revenue of $1.66 billion, GAAP EPS of $0.12, and non-GAAP EPS of $0.33. The company experienced a 6% revenue growth and significant improvement in EPS compared to the previous quarter. Seagate's CEO highlighted the positive impact of cloud demand, operational efficiency, and pricing strategies on the financial performance. The company's focus on HAMR technology products is expected to drive further financial gains. Seagate generated $188 million in cash flow, $128 million in free cash flow, and returned $147 million to shareholders through dividends. The Board declared a quarterly cash dividend of $0.70 per share. Seagate's cash and cash equivalents stood at $795 million at the end of the quarter.
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Seagate Technology Holdings plc (NASDAQ: STX) has released its annual ESG report, detailing progress towards a sustainable, inclusive, and ethical datasphere. The company aims to power its facilities with 100% renewable energy by 2030 and achieve carbon neutrality by 2040. Seagate's circularity program extended the life of 1.19 million hard drives and SSDs, preventing 553 metric tons of e-waste. Other highlights include energy conservation, emissions reduction, water recycling, diversity and inclusion efforts, workplace safety, and community engagement.
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Seagate Technology Holdings plc (STX) will report fiscal third quarter 2024 financial results on April 23, 2024, with a conference call scheduled for 2:00 PM PT / 5:00 PM ET. The live webcast will be available on Seagate's Investor Relations website.
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Seagate Technology plc (NASDAQ: STX) launches a new e-commerce website in the U.S., offering direct purchase of industry-leading storage products with exclusive promotions and support. Customers can access special pricing and free shipping offers on popular gaming storage drives.
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Seagate Technology Holdings plc (STX) will participate in the Morgan Stanley Technology, Media & Telecom Conference on March 6, 2024. The presentation will be at 8:45 AM PT / 11:45 AM ET, with investor meetings to follow. The webcast can be accessed on Seagate's Investor Relations website, with a replay available for 30 days.
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OORT, a decentralized cloud platform, collaborates with Seagate Technology (NASDAQ: STX) to integrate Seagate Lyve services, enhancing its storage capabilities for AI applications. This collaboration aims to strengthen OORT's global compute and storage resources, optimize costs, and foster new strategic alliances, marking a significant step in revolutionizing the decentralized cloud industry.
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Seagate Technology Holdings plc (STX) reported fiscal Q2 2024 revenue of $1.56 billion, with GAAP (loss) per share of $(0.09) and non-GAAP diluted earnings per share (EPS) of $0.12. The company also generated cash flow from operations of $169 million and free cash flow of $99 million. Seagate declared a cash dividend of $0.70 per share and launched the Mozaic platform, marking a major inflection point in mass capacity storage.
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Seagate Technology Holdings plc (STX) announced the launch of the Mozaic 3+ hard drive platform, featuring Heat-Assisted Magnetic Recording (HAMR) technology, which delivers unprecedented areal densities of 3TB+ per platter. The platform powers Seagate's Exos product family, with newly announced capacity points of 30TB and beyond, addressing common industry pain points and enabling customers to store more data in the same floor space than ever before. The Mozaic 3+ platform also offers a 40% improvement in per terabyte power consumption and a 55% reduction in embodied carbon per terabyte compared to traditional PMR drives. The company is experiencing strong demand from data center customers, with a leading cloud service provider focused on ramping of Seagate-provided drives to Mozaic 3+. Seagate's CEO highlighted several industry-first innovations integrated into the platform, including Superlattice Platinum-Alloy Media, Plasmonic Writer, Gen 7 Spintronic Reader, and 12nm Integrated Controller, which are critical for expanding the installed base of hard drive-based mass storage, especially in data centers.
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Seagate Technology Holdings plc (STX) to Report Fiscal Second Quarter 2024 Financial Results
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Seagate Technology Holdings plc (NASDAQ: STX) to participate in investor events including Bank of America Securities Leveraged Finance Conference, UBS Global Technology Conference, and Barclays Global Technology Conference. Webcasts accessible on Seagate's Investor Relations website with replays available for at least 30 days.
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Seagate Technology Holdings PLC Ordinary Shares (Ireland)
Nasdaq:STX
STX Rankings
STX Stock Data
18.80B
208.37M
0.54%
93.4%
4.2%
Computer Storage Device Manufacturing
Manufacturing
United States of America
SINGAPORE
About STX
at seagate, we know that data is always in motion, alive, connected—and we harness it in order to maximize human potential. since 1979, we have been creating precision-engineered data storage technologies that deliver superior capacity, speed, safety, and performance. we are a diverse workforce of 40,000 creative, hard-working, passionate people all over the world—silicon valley, the united kingdom, singapore, india, china, and beyond.