Loading...
Loading...
- Seagate Technology Holdings PLC STX reported first-quarter FY22 revenue growth of 34.6% year-on-year to $3.12 billion, surpassing the consensus of $2.73 billion. Non-GAAP EPS was $2.35, up from $0.93 Y/Y.
- Mass capacity revenue topped the $2 billion mark for the first time, led by ongoing demand from cloud data center customers and strength in the video and image applications markets.
- The non-GAAP gross margin expanded 450 basis points to 31%, while the Non-GAAP operating margin expanded 740 basis points to 20.1%.
- The company generated $496 million in operating cash flow, paid cash dividends of $153 million, and repurchased shares worth $425 million. Seagate held $991 million in cash and equivalents.
- The board raised the quarterly cash dividend by approximately 5% to $0.70 per share, payable on January 5, to shareholders of record on December 22.
- Outlook: STX sees Q2 FY22 revenue of $3.1 billion, plus or minus $150 million above the analyst consensus of $2.52 billion.
- It expects a non-GAAP EPS of $2.35, plus or minus $0.15.
- Price action: STX shares traded higher by 3.54% at $85.15 in the premarket session on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in