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Sep 29, 2023
Seagate Q1 2024 Earnings Report
Seagate's Q1 2024 financial results were reported, revealing revenue aligned with revised expectations, prioritization of financial discipline, and progress on the HAMR product roadmap.
Key Takeaways
Seagate Technology reported Q1 2024 revenue of $1.45 billion. The company experienced a GAAP loss per share of $(0.88) and a non-GAAP loss per share of $(0.22). They generated $127 million in cash flow from operations and $57 million in free cash flow.
Revenue reached $1.45 billion.
GAAP (loss) per share was $(0.88); non-GAAP (loss) per share was $(0.22).
Cash flow from operations totaled $127 million, with free cash flow at $57 million.
A cash dividend of $0.70 per share was declared.
Forward Guidance
The Company is providing the following guidance for its fiscal second quarter 2024: Revenue of $1.55 billion, plus or minus $150 million and Non-GAAP (loss) per share of $(0.10), plus or minus $0.20.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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