Seagate Technology reported strong financial results for the third quarter of fiscal 2025, with adjusted earnings per share of $1.90 surpassing estimates of $1.73 and revenue of $2.16 billion exceeding the expected $2.12 billion, marking a 31% year-over-year increase. The company also achieved an adjusted gross margin of 36.2%, up from 26.1% a year earlier and above the 35.9% forecast. Seagate highlighted robust demand for its high-capacity nearline storage products, particularly driven by global cloud customers, and noted continued momentum in the heat-assisted magnetic recording (HAMR) product ramp despite macroeconomic challenges. The company expects revenue and profits to rise further in the June quarter, with adjusted EPS guidance between $2.20 and $2.60 and revenue projected between $2.25 billion and $2.55 billion, both surpassing consensus estimates. Seagate reported minimal impact from tariffs, stating any additional costs would be passed through, and emphasized strong demand from AI cloud applications that currently outstrips supply. Following the earnings release, Seagate's stock rose, reflecting investor confidence in the company's outlook. In comparison, Western Digital reported third-quarter revenue of $2.29 billion, down 5% sequentially, with a non-GAAP EPS of $1.36 beating estimates by $0.25 but revenue missing expectations by $190 million. Western Digital's cloud, client, and consumer revenues all declined sequentially. Despite the mixed results, Western Digital's stock also rose in pre-market trading.