Seagate reported sharply higher quarterly earnings in results released after U.S. markets closed October 27. Its fiscal first quarter of 2027 ended October 2, 2026; the fiscal-year label does not mean the results cover calendar 2027.
The storage company reported revenue of $4.233 billion, compared with $2.629 billion a year earlier. Net income reached $1.761 billion, up from $549 million. Reported diluted earnings were $7.59 per share, while adjusted earnings were $7.68.
Seagate said it generated $1.7 billion in operating cash flow and $1.5 billion in free cash flow. It retired $1.2 billion of debt during the quarter.
The board increased the quarterly dividend to 76 cents per share, payable January 7, 2027 to holders of record December 23.
For its second fiscal quarter, the company forecast revenue of $4.8 billion, plus or minus $100 million. That is guidance, rather than completed sales. The Singapore-dated release carries October 28, when the U.S. announcement fell locally.
Sources: Seagate — fiscal first-quarter results: https://s24.q4cdn.com/101481333/files/doc_financials/2027/q1/STX-FQ1-27-Press-Release.pdf