Seagate Technology plc Q2 2026 Earnings Recap

STX Q2 2026 January 28, 2026

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Seagate Technology delivered exceptional fiscal Q2 2026 results, achieving record revenues and profit margins, driven by robust demand across high-capacity storage markets and a successful pricing strategy.

Earnings Per Share Beat

$3.11 vs $2.78 est.

+11.9% surprise

Revenue Beat

2825000000 vs 2726016000 est.

+3.6% surprise

Market Reaction

1-Day +19.14%

5-Day +9.66%

30-Day +14.09%

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Key Takeaways

Revenue soared over 25% year-over-year, with record-breaking gross margins exceeding 42%.
Non-GAAP earnings per share hit new highs, reflecting Seagate’s operational leverage and effective cost management.
HAMR technology deployments ramped significantly, with over 1.5 million units shipped, underpinning Seagate's long-term capacity growth strategy.
Strong demand for nearline drives is fully allocated through calendar 2026, with promising visibility into 2027 and beyond.
Emerging AI-driven applications are anticipated to further drive data generation and storage requirements, reinforcing Seagate's market position.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit STX on AllInvestView.

Next Q3 2026