Seagate Technology Holdings Plc
Seagate Reports Q2 2024 Earnings Beat and Declares Dividend
Summary
Seagate Technology Holdings plc reported its fiscal second quarter 2024 financial results on January 24, 2024, showing a non-GAAP diluted earnings per share (EPS) of $0.12, which beat expectations. The company also declared a quarterly cash dividend of $0.70 per share payable on April 4, 2024. Seagate's Q2 2024 revenue was $1.56 billion, reflecting a 7% sequential growth, and it generated $99 million in free cash flow. The company provided guidance for Q3 2024, projecting revenue of $1.65 billion and non-GAAP diluted EPS of $0.25.
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About Seagate Technology Holdings Plc
Seagate Technology Holdings Plc is a leading provider of data storage solutions integral to the information technology industry. Its primary function is to design, manufacture, and supply a wide array of hard disk drives (HDDs) and storage systems, which are crucial for data management and storage in various sectors. Seagate's innovative storage solutions cater to the needs of consumers, small businesses, and large enterprises, supporting critical functions such as data centers, cloud computing, and client computing applications. Established in 1979, Seagate has consistently been at the forefront of data storage technology, introducing cutting-edge solutions that enhance storage efficiency and capacity. The company's products have widespread applications across multiple industries, including technology, healthcare, automotive, and finance, playing an indispensable role in facilitating the ever-growing demand for data storage and management. Through its advanced research and development initiatives, Seagate Technology Holdings Plc continues to influence the market landscape by driving innovations in storage technologies and solutions, thereby maintaining its significant market presence and leadership.
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