Seagate’s first quarter revenue reaches $4.23 billion, up 61% year-on-year, surpassing expectations

The data storage device manufacturer Seagate Technology (STX.US) announced that its Q1 fiscal 2027 revenue exceeded market expectations, rising 61% year-on-year to $4.23 billion. The company’s median revenue guidance for the next quarter is $4.8 billion, 6.7% higher than the market consensus. Seagate’s revenue has grown for 10 consecutive quarters, indicating that the current upward cycle continues. A typical industry upcycle lasts 8 to 10 quarters. Management currently expects next quarter’s revenue to increase by 69.9% year-on-year. Days Inventory Outstanding (DIO) is an important metric for chip manufacturers, reflecting capital intensity and the cyclical nature of semiconductor supply and demand. This quarter, Seagate’s DIO was 86 days, 5 days above the average over the past five years, indicating that the company’s inventory has risen above historical levels. After the earnings report, Seagate’s after-hours share price once fell by more than 8%.