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Oct 02, 2020
Seagate Q1 2021 Earnings Report
Seagate's Q1 2021 financial results were reported, showing a revenue of $2.31 billion and GAAP EPS of $0.86.
Key Takeaways
Seagate Technology reported solid September quarter results, driven by strong recovery in the video and image applications market and healthy cloud data center demand. The company's revenue reached $2.31 billion, with a GAAP EPS of $0.86 and non-GAAP EPS of $0.93. Seagate is on track to ship its first HAMR drives for revenue in December.
Revenue of $2.31 billion.
GAAP operating margin of 10.8%; non-GAAP operating margin of 12.7%.
GAAP diluted earnings per share (EPS) of $0.86; non-GAAP diluted EPS of $0.93.
Cash flow from operations of $297 million and free cash flow of $186 million.
Seagate
Seagate
Forward Guidance
The Company is providing the following guidance for its fiscal second quarter 2021: Revenue of $2.55 billion, plus or minus $200 million and Non-GAAP diluted EPS of $1.10, plus or minus $0.15.
Positive Outlook
- Revenue of $2.55 billion, plus or minus $200 million
Challenges Ahead
- Non-GAAP diluted EPS of $1.10, plus or minus $0.15