Seagate Technology reports 44% revenue growth to $3.11 billion in Q3 2026, fueled by AI data storage needs.
Seagate Technology (NASDAQ: STX) shares have soared more than 700% over the past year as data centers ramp up storage capacity for AI applications. The company’s fiscal Q3 2026 revenue climbed 44% year over year to $3.11 billion, with adjusted earnings per share jumping to $4.10 from $1.89 in the prior-year period.
Adjusted gross margins expanded to 47% from 36.2% a year earlier, reflecting strong demand for nearline storage solutions. Management guided for fiscal Q4 revenue of approximately $3.45 billion at the midpoint, signaling continued momentum.
Shares rose 9% on Monday and extended gains Tuesday, as investors bet on sustained AI-driven growth in storage infrastructure.