Seagate Technology Reports Strong Q3 Earnings and Revenue Growth
Seagate Technology's stock surged after the company reported a 44% year-over-year revenue increase to $3.1 billion and a 129% rise in adjusted net income to $934 million in its fiscal third quarter. The growth was driven by strong demand for high-capacity hard drives due to AI infrastructure expansion, leading to improved profit margins and significant free cash flow.
Topics: AI infrastructure Profit margins Revenue growth Seagate Technology Stock price movement