Seagate beats Q3 earnings and revenue estimates, raises Q4 outlook on AI-driven storage demand.

Seagate Technology reported Q3 adjusted EPS of $4.10 and revenue of $3.11 billion, both surpassing analyst expectations and marking a 44% year-over-year revenue increase. The company also announced a strong Q4 outlook with projected revenue of $3.45 billion and EPS of $5.00, well above estimates, driven by growing demand for data storage fueled by artificial intelligence workloads. Seagate's robust free cash flow and debt reduction highlight financial strength, while the stock surged over 18% in after-hours trading following the report.