Seagate Technology PLC (STX) experienced a significant surge of 9.98% during Tuesday's intraday and after-hours trading sessions, marking a substantial upward movement for the data storage specialist.

The sharp rise was primarily driven by the company's release of better-than-expected fiscal second-quarter financial results. Seagate reported adjusted earnings per share of $3.11, surpassing analyst estimates of $2.81, while revenue reached $2.83 billion, beating expectations of $2.73 billion. Furthermore, the company issued strong guidance for the current quarter, projecting revenue of approximately $2.90 billion and adjusted EPS of around $3.40, both well above market forecasts.

Management attributed the strong performance to durable demand in the data center sector, amplified by artificial intelligence applications that are driving the need for high-performance, cost-efficient storage solutions at scale. The positive results and outlook come amid a broader memory-chip market crunch and sustained investor optimism around AI-related infrastructure investments.