SEAGATE CRUSHES Q3 ESTIMATES, GUIDES HIGHER
INDUSTRY DESK■ 1 MIN READ
TUE, APR 28, 2026■ AI-SUMMARIZED FROM 2 SOURCES BELOW
Seagate Technology reported Q3 revenue of $3.11B, beating estimates by $150M with 44% year-over-year growth. The storage maker also guided Q4 revenue and adjusted EPS above Wall Street expectations, sending shares up 13% after hours.
The better-than-expected results signal strengthening demand for data storage solutions. Seagate's third-quarter performance exceeded analyst projections of $2.96B, driven by robust customer demand across enterprise and consumer segments.
The company's forward guidance suggests momentum will continue into the fourth quarter, with revenue and profitability metrics expected to exceed current consensus estimates. This outlook represents a significant shift from the storage industry's previous weakness, reflecting broader recovery in data center and PC markets.
The 13% after-hours jump in STX shares reflects investor confidence in management's execution and the storage sector's rebound. Seagate's results provide a potential leading indicator for the broader semiconductor and hardware industries, which have faced headwinds in recent quarters.
The guidance improvement suggests the company sees sustained customer spending on storage infrastructure, potentially signaling confidence in enterprise IT budgets for the coming period.
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