Seagate posts record Q1 revenue and earnings but shares slide 6% after hours
Seagate Technology reported fiscal first‑quarter 2027 revenue of $4.23 billion, up about 60% year over year, and adjusted earnings of $7.68 per share. The company raised its quarterly dividend to $0.76 and guided second‑quarter revenue between $4.7 billion and $4.9 billion with adjusted EPS of $9.00‑$9.40. Despite the strong results, the stock fell roughly 6% in after‑hours trading.
Why it matters
The 6% post‑earnings price drop means investors will see a short‑term loss even though the company delivered record earnings and increased its dividend. The higher dividend and debt reduction improve the company’s cash profile, but the share‑price reaction may affect short‑term trading strategies.
Key facts
- 1Fiscal Q1 2027 revenue was $4.23 billion, up 60% year over year. stocktwits.com
- 2Adjusted earnings for the quarter were $7.68 per share. stocktwits.com
- 3Seagate lifted its quarterly dividend to $0.76 per share, a 2.7% increase. stocktwits.com
- 4The company guided second‑quarter revenue between $4.7 billion and $4.9 billion. stocktwits.com
- 5Adjusted earnings guidance for Q2 was $9.00‑$9.40 per share. stocktwits.com
- 6Shares fell about 6% in after‑hours trading following the release. finance.yahoo.com
Open questions
- Revenue guidance range differs: $4.7‑$4.9 billion versus $4.8 billion midpoint.
- EPS guidance differs: $9.00‑$9.40 per share versus $9.20 per share midpoint.
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.