Seagate Technology (STX) Stock: Revenue Surges 34% as Cloud Data Center Demand Strengthens

TLDR

• Seagate fiscal 2026 revenue rose 34% to $12.2 billion on strong cloud demand.
• Fourth-quarter revenue reached $3.6 billion as profit margins expanded sharply.
• Free cash flow hit a record $3.1 billion as annual earnings more than doubled.
• Seagate cut $1.4 billion in debt and returned $810 million to its shareholders.
• STX shares gained 2.77% to $768 as strong results supported the 2027 outlook.

Seagate Technology (STX) shares rose 2.77% to $768.00 after recovering from a sharp morning decline by midday. The storage company reported $12.2 billion in fiscal 2026 revenue, marking 34% annual growth. Strong cloud data center demand and tighter execution lifted profitability, cash generation, and shareholder returns.

Seagate Technology Holdings plc, STX

Seagate Delivers Record Fiscal 2026 Profitability

Seagate generated $3.63 billion in fourth-quarter revenue, up sharply from $2.44 billion one year earlier. GAAP gross margin reached 52.3%, while non-GAAP gross margin improved to 52.7%. The company also posted GAAP diluted earnings of $5.58 per share during the quarter.

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