Seagate Technology (STX) Reports 44% Revenue Growth, Raises Guidance

Seagate Technology (STX) reported a fiscal Q3 revenue of $3.11 billion, marking a 44.07% increase year-over-year and beating expectations by 5.22%. The non-GAAP EPS was $4.10, exceeding estimates by 16.94%. For Q4, management guided revenue to $3.45 billion and EPS to $5.00. Seagate has contracted nearly all of its nearline capacity through 2027, reflecting strong demand from cloud service providers. These factors indicate potential revenue and earnings growth, making it important for investors in Seagate to note these developments.