New York, January 28, 2026, 05:35 (ET) — Premarket
- Seagate shares surged over 10% in pre-market trading following better-than-expected earnings and an upbeat forecast.
- The storage company reported quarterly revenue of $2.83 billion, with non-GAAP EPS coming in at $3.11.
- A quarterly dividend of $0.74 will be paid on April 8, with the record date falling on March 25.
Seagate Technology Holdings plc shares jumped roughly 11.6% in premarket trade Wednesday, pushing the price close to $414.70. The boost came after the data-storage firm posted results that topped Wall Street estimates and provided a forecast that exceeded consensus.
The market remains focused on the “AI buildout” theme, where the constraint isn’t just chips but the massive volumes of data these systems process. Seagate projected fiscal third-quarter revenue at $2.90 billion, with a $100 million margin either way, and adjusted EPS of $3.40, plus or minus 20 cents—both figures beating LSEG estimates. The company also reported second-quarter results that surpassed forecasts. CEO Dave Mosley highlighted that modern data centers require storage solutions balancing “performance and cost-efficiency at exabyte-scale.” Reuters
Seagate posted fiscal second-quarter revenue of $2.83 billion, with non-GAAP diluted EPS coming in at $3.11, excluding certain one-time costs. The company reported a GAAP gross margin of 41.6%, boosted by the rollout of its HAMR-based Mozaic drives—using heat-assisted magnetic recording to increase storage density. “December quarter results exceeded our expectations,” Mosley said in the release. Seagate Investors
After the report, the stock saw active after-hours trading. On Tuesday, MarketWatch recorded Seagate at $407.97, a 9.74% jump from its regular session close of $371.76.
In a separate filing, Seagate’s board approved a quarterly cash dividend of $0.74 per share, set for payment on April 8 to shareholders on record as of March 25. The company also confirmed it hosted its earnings webcast Tuesday afternoon.
Seagate was gaining momentum early on. The stock jumped 3.76% Tuesday, with trading volume surpassing its 50-day average. Other storage names like Western Digital, NetApp, and Pure Storage also ended the day up.
Attention in the storage sector shifts sharply to the upcoming update. Western Digital is set to release its fiscal second-quarter earnings after the close on Thursday, Jan. 29. The company will also host a conference call that day.
But this rally isn’t without risks. Hard-disk drive demand often fluctuates alongside cloud spending cycles, and the industry has a well-known pattern of price drops whenever supply loosens or buyers hold back orders—even amid rising shipment volumes.
Wednesday’s key question: can the premarket rally sustain after Nasdaq kicks off at 9:30 a.m. ET? After that, eyes turn to Western Digital’s earnings on Jan. 29. Seagate investors will be watching the March 25 record date for the upcoming dividend.
