Companies /Technology
Seagate Technology Holdings Plc
NASDAQ: STX Computer Hardware
$501.33
▼ $4.81 (−0.95%) today
Markets closed · 4:19pm ET

Seagate Technology (STX) Q1 2027 Earnings

Reported Oct 27, 2026, 4:12pm ET · SEC source
$7.68
Beat +3.74%
EPS · est. $7.40 Adjusted
$4.2B
Beat +2.24%
Revenue · est. $4.1B
6 quarters
Consecutive EPS beats

How Did STX Stock React to Q1 2027 Earnings?

% change · around the report
0+4%+8%+12%Oct 27Oct 28report 4:12pm ETearnings−0.1%+10.8%
0+4%+8%+12%Oct 27Oct 28earnings−0.1%+10.8%
STX +10.8%S&P 500 −0.1%
0+4%+8%+12%Oct 27Oct 28report 4:12pm ETearnings−0.4%+10.8%
0+4%+8%+12%Oct 27Oct 28earnings−0.4%+10.8%
STX +10.8%NASDAQ −0.4%
−8%0+8%+16%Oct 26Nov 4report 4:12pm ETearnings−0.2%−10.8%
−8%0+8%+16%Oct 26Nov 4earnings−0.2%−10.8%
STX −10.8%S&P 500 −0.2%
−8%0+8%+16%Oct 26Nov 4report 4:12pm ETearnings−3.8%−10.8%
−8%0+8%+16%Oct 26Nov 4earnings−3.8%−10.8%
STX −10.8%NASDAQ −3.8%
+4.51%
Day of report
+0.36%
Next session
−20.19%
One week

Did STX Beat Earnings? Q1 2027 Results

Yes. Seagate Technology reported Q1 2027 earnings of $7.68 a share on Oct 27, 2026, beating the $7.40 consensus estimate by 3.7%. Revenue was $4.2B against a $4.1B estimate.

Seagate Technology Holdings delivered a standout fiscal first quarter for 2027, beating Wall Street expectations on both top and bottom lines and extending its streak of consensus EPS beats to five consecutive quarters. The hard disk drive maker posted adjusted diluted EPS of $7.68, clearing the $7.40 consensus by 3.74%, while revenue of $4.23 billion edged past the $4.14 billion estimate by 2.24% and surged 61.0% from the year-ago period's $2.63 billion. The core driver of that growth was a dramatic expansion in profitability tied to Seagate's HAMR-based Mozaic platform, which lifted non-GAAP gross margin to 57.8% as value-based pricing and a richer product mix took hold, a ramp that gained added credibility after Microsoft Azure qualified the Mozaic technology ahead of the quarter's close. Free cash flow of $1.48 billion funded aggressive debt reduction, with roughly $1.26 billion in principal retired during the period. Management guided fiscal Q2 revenue to $4.80 billion and non-GAAP EPS to $9.20, signaling continued sequential momentum as hyperscale demand for mass-capacity storage shows no signs of slowing.

Key Takeaways
  • Strengthening demand environment for mass-capacity storage
  • Value-based pricing strategy driving gross margin expansion to 57.8% non-GAAP
  • Supply discipline maintaining favorable pricing dynamics
  • Compounding data creation, retention and reuse driving storage demand

“Seagate delivered another quarter of record profitability and our highest ever free cash flow in the September quarter, demonstrating the earnings power of our business amid a strengthening demand environment.”

Seagate Technology CEO, on the earnings call

What Is Seagate Technology's Outlook?

For fiscal Q2 2027, Seagate guides revenue of $4.8 billion (±$100 million) and non-GAAP diluted EPS of $9.20 (±$0.20). Management sees a multi-year growth phase driven by compounding data creation, retention and reuse, with long-term customer demand visibility reinforcing this outlook. The HAMR-based technology roadmap is expected to address growing exabyte demand through areal density gains while maintaining supply discipline.

STX YoY Financials

Q1 2027 vs Q1 2026 · SEC filings Q1 2026 Q1 2027
$0$2.0B$4.0B$2.6B$4.2BRevenue$1.0B$2.4BGross Profit$707.0M$2.1BOperating Income$549.0M$1.8BNet Income
$0$2.0B$4.0BRevenueGross ProfitOperating IncomeNet Income
STX income statement, Q1 2027 versus Q1 2026
Metric Q1 2027 Q1 2026 Year over year
Revenue $4.2B $2.6B +61.0%
Gross Profit $2.4B $1.0B +134.0%
Operating Income $2.1B $707.0M +191.9%
Net Income $1.8B $549.0M +220.8%

STX Revenue by Segment

Hard Drive
Mass Capacity
Legacy
Other

When Does Seagate Technology Report Next?

Expected report date

Figures from SEC filings and company reports. Not investment advice.