Form 10-Q · Quarterly report
Seagate Technology 10-Q, filed Oct 29, 2026
- Filed
- CIK
- 0001137789
- Accession no.
- 0001137789-26-000309
Summary
Seagate Technology reported revenue of $4.23 billion and net income of $1.76 billion for the quarter ended October 2, 2026, up from $2.63 billion and $549 million respectively a year earlier. The company attributed the increase primarily to favorable pricing actions and higher nearline exabytes shipped, with gross margin rising to 57% from 39%.
Key points
- Revenue rose to $4,233 million from $3,629 million in the prior quarter and $2,629 million in the year-earlier quarter.
- Net income was $1,761 million, compared with $1,294 million in the prior quarter and $549 million a year earlier.
- Total HDD exabytes shipped were 220, including 198 nearline exabytes; data center accounted for 81% of revenue.
- Cash and cash equivalents were $1,258 million as of October 2, 2026, down $446 million from July 3, 2026, while operating cash flow was $1.7 billion.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT'S DISCUSSION Results of Operations We list in the tables below summarized information from our Condensed Consolidated Statements of Operations and Comprehensive Income by dollar amounts and as a percentage of revenue: For the Three Months Ended (Dollars in millions) October 2, 2026 July 3, 2026 October 3, 2025 Revenue $ 4,233 $ 3,629 $ 2,629 Cost of revenue 1,806 1,731 1,592 Gross profit 2,427 1,898 1,037 Product development 200 188 186 Marketing and administrative 159 147 144 Restructuring and other, net 4 4 13 Income from operations 2,064 1,559 694 Other expense, net (82) (54) (80) Income before income taxes 1,982 1,505 614 Provision for income taxes 221 211 65 Net…
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.