Seagate Technology reported robust fiscal Q1 2025 results with revenue increasing to $2.17 billion. The company achieved GAAP net income of $305 million, or $1.41 per diluted share, while non-GAAP EPS reached $1.58. Gross margin expanded to 32.9%, marking the highest level in over a decade. The company generated $95 million in operating cash flow and $27 million in free cash flow.The Board of Directors approved a 3% increase in quarterly cash dividend to $0.72 per share, payable on January 6, 2025. The company maintains strong liquidity with $1.2 billion in cash and cash equivalents at quarter-end.Looking ahead, Seagate provided Q2 FY25 guidance with expected revenue of $2.30 billion (±$150M) and non-GAAP EPS of $1.85 (±$0.20). Management highlighted strong product momentum, particularly in 28-terabyte nearline drives and HAMR-based Mozaic products entering cloud customer qualification.

Seagate Technology reported robust fiscal Q1 2025 results with revenue increasing to $2.17 billion. The company achieved GAAP net income of $305 million, or $1.41 per diluted share, while non-GAAP EPS reached $1.58. Gross margin expanded to 32.9%, marking the highest level in over a decade. The company generated $95 million in operating cash flow and $27 million in free cash flow.The Board of Directors approved a 3% increase in quarterly cash dividend to $0.72 per share, payable on January 6, 2025. The company maintains strong liquidity with $1.2 billion in cash and cash equivalents at quarter-end.Looking ahead, Seagate provided Q2 FY25 guidance with expected revenue of $2.30 billion (±$150M) and non-GAAP EPS of $1.85 (±$0.20). Management highlighted strong product momentum, particularly in 28-terabyte nearline drives and HAMR-based Mozaic products entering cloud customer qualification.