Seagate Technology reported its Q2 FY25 earnings, revealing an adjusted earnings per share (EPS) of $2.03 and revenue of $2.33 billion, marking a year-over-year increase of 49.52%. The net income for the quarter was $336 million, with a gross margin of 34.9%, the highest in a decade, attributed to improved demand and structural business gains. Following the earnings announcement, Seagate's shares rose by 7% in pre-market trading. Analysts noted that the results beat expectations, with EPS exceeding estimates by $0.15 and revenue surpassing forecasts by $5 million. The strong performance led to a rating upgrade from Benchmark.