Seagate Technology Reports Strong Q3 Earnings, Driving Stock Higher
Seagate Technology's stock surged 11.10% after the company reported a 44% year-over-year revenue increase to $3.1 billion in its fiscal third quarter, driven by strong demand for high-capacity hard drives due to AI infrastructure growth. The company also saw significant improvements in gross and operating margins, along with a 129% increase in adjusted net income.
Tickers: $STX
Topics: Artificial Intelligence Data Storage Earnings Growth Profit Margins Revenue Growth