Seagate Q1 Beats Estimates, Raises Dividend

Seagate reported fiscal Q1 adjusted EPS of $2.61 on revenue of $2.63 billion, both above Street estimates and well ahead of year-ago results. The company guided Q2 revenue to about $2.7 billion (±$100 million) and gave adjusted EPS guidance near $2.75, citing strong demand from AI-driven data-center workloads and heavy cloud provider spending. Management said shipments are being boosted by established use cases (like social video) and new GenAI applications, and noted inventory normalization after a prior glut. Seagate raised its quarterly dividend 2.8% to $0.74 per share, payable Jan. 9, 2026, to holders of record on Dec. 24, 2025. Shares rose roughly 3–4% in extended trading and have climbed about 160% year-to-date as investors bet on AI tailwinds and tight hard‑drive supply into 2026. Analysts lifted price targets and maintained positive ratings after the beat, though investors will be watching management’s commentary and any future estimate revisions.