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Home/News Feed/Seagate beats Q3 revenue and EPS estimates, driven by AI data storage demand, shares jump 12%.
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Seagate beats Q3 revenue and EPS estimates, driven by AI data storage demand, shares jump 12%.

Company Fundamentals
29 Apr 2026
Proactive Investors
View Source
Bullish
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Seagate Technology reported fiscal Q3 2026 results surpassing expectations with $3.11 billion revenue and $4.10 adjusted EPS, boosted by strong demand for AI-related high-capacity data storage. Gross margins improved significantly to 47%, and free cash flow neared $1 billion. The company retired $641 million in debt and returned $191 million to shareholders. Seagate projects strong Q4 revenue of $3.45 billion and EPS of $5.00, with analysts upgrading price targets due to sustained pricing power and long-term demand visibility tied to AI and cloud workloads.

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