Seagate Technology Holdings Plc (NASDAQ:STX) surged over 18% in after-hours trading on Tuesday following the company’s fiscal third-quarter 2026 results, which highlighted strong profitability and continued momentum tied to AI-driven demand.
Q3 Result
Seagate reported quarterly revenue of $3.11 billion, up from $2.16 billion in the same period last year. The company posted GAAP diluted earnings per share of $3.27, while non-GAAP diluted EPS came in at $4.10.
Net income rose to $748 million, compared to $340 million a year earlier, reflecting significant year-over-year growth. The company also delivered strong margins, with GAAP gross margin at 46.5% and non-GAAP gross margin at 47.0%.
Seagate generated $1.1 billion in operating cash flow and $953 million in free cash flow during the quarter. The company also strengthened its balance sheet by retiring $641 million in debt and returning $191 million to shareholders through dividends and share repurchases.
Management highlighted that …
