STX Seagate (STX) Q1 FY26 earnings call
Seagate delivered a strong quarter driven by robust demand for high-capacity nearline drives, particularly from global cloud service providers, and accelerated adoption of its HAMR-based Mozaic platforms. The company achieved record profitability metrics, underscored by an increased dividend, and is focused on leveraging AI-driven data growth to expand exabyte capacity through product transitions rather than unit capacity additions.
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STX operating KPIs by quarter
| KPI | Dec 2025 Q2 FY26 | Mar 2026 Q3 FY26 | Jun 2026 Q4 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Exabytes shipped | 190To that end, we shipped 190 exabytes in the December quarter, up 26% year-over-year, while keeping overall unit capacity relatively flat.Source: earnings call transcript | 199We shipped 199 exabytes in the quarter, up 39% year-over-year.Source: earnings call transcript | 218In the June quarter, we shipped a total of 218 exabytes, up 34% year-over-year, with data center representing 89% of the total.Source: earnings call transcript | +9.5% |
| Exabytes shipped Data center | 165We shipped 165 exabytes in the data center market, up 4% sequentially and 31% year-on-year.Source: earnings call transcript | 175We shipped 175 exabytes into the data center market, up 6% sequentially and 47% year-on-year.Source: earnings call transcript | 195We shipped 195 exabytes into the data center market, up 11% sequentially and 43% year-over-year, with data center revenue coming in at $2.9 billion, up 17% sequentially and 57% year-over-year.Source: earnings call transcript | +11.4% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.