Seagate reports Q3 revenue up 44% YoY to $3.11B, forecasts Q4 above estimates; STX jumps 13%+

· business · Source ↗

TLDR

  • Seagate beat Q3 revenue estimates by $150M and guided Q4 above Wall Street forecasts, sending shares up over 13% after hours.

Key Facts

  • Q3 revenue came in at $3.11B, up 44% year-over-year, versus analyst estimate of $2.96B.
  • Seagate forecast Q4 revenue and adjusted EPS above analyst expectations.
  • STX shares jumped more than 13% in after-hours trading following the report.
  • Strong data storage demand was cited as the driver behind the upbeat outlook.

Why It Matters

  • A 44% revenue jump and raised guidance signals sustained demand for hard disk storage, not a one-quarter spike.
  • The after-hours share move reflects market confidence that the demand trend extends into the next quarter.

Zaheer Kachwala / Reuters · 2026-04-28 · Read the original

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