
Seagate Technology has reported its fiscal fourth quarter and fiscal year 2024 financial results, showcasing a robust performance. The company achieved a revenue of $1.89 billion, with GAAP diluted earnings per share (EPS) of $2.39 and non-GAAP diluted EPS of $1.05. Cash flow from operations amounted to $434 million, while free cash flow stood at $380 million. Additionally, Seagate declared a cash dividend of $0.70 per share. The CEO highlighted the company's strong execution against financial goals amid an improving cloud demand environment. Following the earnings report, Seagate's stock rose 5.3% to over $110 in after-hours trading, marking a 43% gain over the last three quarters. The stock's performance has been positively influenced by significant investments from top-performing hedge funds, including Stanley Druckenmiller. The stock is up 7.3% AH.
Seagate stock surges following impressive Q4 earnings and sales performance. Investors react positively to the news.
$STX rose 5.3% to $110+ in a.h. after reported its Q2 earnings results that exceeded expectations. The hard drive maker has been a top holding of Stanley Druckenmiller in the last 3 quarters, now a ~43% gainer. Quite a few top performing hedge funds were equally bullish just… https://t.co/GfhDILPITy https://t.co/sB72emjoz5
Seagate CEO: "..robust financial performance for the June quarter amid an improving cloud demand environment, capping off a fiscal year of strong execution against our financial goals" $STX: +7.3% AH More details: https://t.co/gZPgn6HHmr https://t.co/9hWTaJoIYI