Seagate Rises After Hours on Strong 3Q

Dow Jones

Apr 30

By Josh Beckerman

Shares of Seagate Technology Holdings rose 8.9% to $88.90 as it reported adjusted earnings at the high end of guidance.

The data-storage company on Tuesday posted adjusted per-share earnings of $1.90 for the third quarter ended March 28, up from 33 cents a year earlier. Revenue rose to $2.16 billion from $1.66 billion. In January, it had projected adjusted earnings per share of $1.70, plus or minus 20 cents.

Seagate, a beneficiary of AI-related data-center growth, said its results reflect structural enhancements and a healthy supply/demand environment.

Seagate's fourth-quarter guidance, which reflects minimal expected impact from global tariff policies announced so far, is for adjusted earnings per share of $2.40, plus or minus 20 cents, and revenue of $2.4 billion, plus or minus $150 million.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

April 29, 2025 18:38 ET (22:38 GMT)

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