Seagate Technology Holdings PLC

STX: XNAS (USA)

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Seagate Earnings: Growing High-Density Drive Adoptions Power Margin Upside

Eric Compton

Oct 29, 2025

Seagate's fiscal 2026 first-quarter revenue grew 21% year over year to $2.63 billion, 80% of which were data center sales. Non-GAAP gross margin expanded 680 basis points year over year to 40% and non-GAAP operating margin rose 860 basis points to 29% on rising adoption of higher-density drives.

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Seagate Technology Holdings PLC

Seagate Earnings: Growing High-Density Drive Adoptions Power Margin Upside

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