Seagate Beats Q3 Estimates, Shares Jump 17%

Seagate reported Q3 FY2026 adjusted EPS $4.10 and revenue $3.11 bn, beating estimates of $3.48 and $2.95 bn.
Revenue rose 44% YoY to $3.11 bn, while non‑GAAP gross margin improved to 47.0% from 36.2% last year.
Seagate forecast FY2026 Q4 adjusted EPS $5.00±$0.20 and revenue $3.45 bn±$0.1 bn, topping consensus by 26% and 9% respectively.
The board declared a $0.74 per share cash dividend and the company generated $1.1 bn operating cash flow, $953 m free cash flow.