Seagate said June quarter revenue was $2.44 billion, up 13% sequentially and 30% year over year. It said fiscal 2025 revenue was $9.1 billion, representing growth near 40%.

1. 01

   Seagate said June quarter revenue was $2.44 billion, up 13% sequentially and 30% year over year. It said fiscal 2025 revenue was $9.1 billion, representing growth near 40%.

2. 02

   The company said non-GAAP gross margin in the June quarter was 37.9%, up 170 basis points sequentially, and non-GAAP operating margin was 26.2%, up 270 basis points. Non-GAAP EPS was $2.59. For the full year, non-GAAP operating profit was $2.1 billion and non-GAAP EPS was $8.10.

3. 03

   Seagate said free cash flow in the June quarter was $425 million, nearly doubling from $216 million in the prior quarter, and it returned $153 million to shareholders through quarterly dividends. The company reduced debt by approximately $150 million during the quarter, exiting with gross debt of approximately $5 billion and a net leverage ratio of 1.8 times.

4. 04

   The company guided September quarter revenue to $2.5 billion plus or minus $150 million, non-GAAP operating expenses to approximately $290 million, and non-GAAP EPS to $2.30 plus or minus $0.20. It said this EPS guidance assumes a 16% tax rate and non-GAAP diluted share count of 221 million shares.

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Original filing

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