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Sep 30, 2022
Seagate Q1 2023 Earnings Report
Reported financial results for the first quarter of fiscal year 2023, impacted by global economic uncertainties and customer inventory corrections.
Key Takeaways
Seagate's Q1 2023 revenue was $2.04 billion, with a GAAP EPS of $0.14 and non-GAAP EPS of $0.48. The company is implementing a restructuring plan expected to yield $110 million in annualized savings.
Revenue was $2.04 billion.
GAAP diluted earnings per share (EPS) was $0.14; non-GAAP diluted EPS was $0.48.
Cash flow from operations was $245 million and free cash flow was $112 million.
Announced restructuring plan with expected annualized savings of approximately $110 million.
Seagate
Seagate
Forward Guidance
The Company is providing the following guidance for its fiscal second quarter 2023: Revenue of $1.85 billion, plus or minus $150 million and Non-GAAP diluted EPS of $0.15, plus or minus $0.20.