Seagate said fiscal 2024 Q3 revenue, which ended March 29, 2024, was $1,655 million, down from $1,860 million a year earlier. The company said its GAAP gross margin was 25.7% and its operating margin was 8.6%.

1. 01

   Seagate said fiscal 2024 Q3 revenue, which ended March 29, 2024, was $1,655 million, down from $1,860 million a year earlier. The company said its GAAP gross margin was 25.7% and its operating margin was 8.6%.

2. 02

   The company said GAAP net income for Q3 was $25 million ($0.12 per diluted share), and non-GAAP net income was $71 million ($0.33 per diluted share). It said it had reported a GAAP net loss of $433 million in the year-earlier quarter.

3. 03

   Seagate said operating cash flow for Q3 was $188 million and free cash flow was $128 million. It said it returned $147 million to shareholders through its quarterly dividend and that cash and cash equivalents at quarter-end totaled $795 million.

4. 04

   The company declared a quarterly cash dividend of $0.70 per share, payable on July 5, 2024 to shareholders of record as of the close of business on June 20. The company also gave its outlook for fiscal Q4, with revenue of $1.85 billion (plus or minus $150 million) and non-GAAP diluted EPS of $0.70 (plus or minus $0.20).

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Original filing

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