Seagate Technology Holdings plc reported fiscal first-quarter 2027 shipments rose 21% from a year earlier but only 1% sequentially, as management tied the slower pace to product-transition timing.
The company shipped 220 exabytes in the quarter ended Oct. 2, 2026, according to its results release dated Oct. 27. The year-over-year comparison was 21% growth; the increase from the preceding quarter was 1%.
Revenue for the quarter reached $4.23 billion, up from $2.63 billion a year earlier. Non-GAAP diluted earnings per share were $7.68, up from $2.61 a year earlier.
On Seagate’s earnings call, Seagate Chair and CEO Dave Mosley said shipments had leveled off after a sizable increase in the June quarter. He linked the change to the timing of product transitions and said shipments were expected to rise significantly in the December quarter.
Chief Financial Officer Gianluca Romano said Seagate was preparing production ahead of customer qualifications for its Mozaic 4 products. The company’s fiscal second-quarter outlook calls for revenue of $4.8 billion, plus or minus $100 million, and non-GAAP diluted earnings per share of $9.20, plus or minus $0.20.
