Seagate Technology Posts 21.5% Q2 Revenue Growth to $2.83B, Guides Q3 $2.90B
Seagate’s market cap is $92.9B after shares climbed 319.8% over the past year and 54.7% year-to-date, outpacing the S&P 500’s 11.8% rise. In Q2 fiscal 2026, revenue grew 21.5% to $2.83B and adjusted EPS jumped 53.2% to $3.11, with Q3 guidance of $2.90B revenue and $3.40 EPS.
1. Market Performance
Seagate Technology’s market capitalization reached $92.9 billion as its stock soared 319.8% over the past 52 weeks and 54.7% year-to-date, significantly outperforming the S&P 500’s 11.8% gain and thematic peers such as the iShares Future AI & Tech ETF, which declined 1.5% over the same period.
2. Q2 Fiscal 2026 Results
In Q2 fiscal 2026, Seagate reported revenue of $2.83 billion, up 21.5% year-over-year, and non-GAAP EPS of $3.11, a 53.2% increase from a year earlier, both surpassing consensus estimates of $2.75 billion in revenue and $2.84 in EPS.
3. Q3 Fiscal 2026 Guidance
Management guided Q3 revenue of $2.90 billion plus or minus $100 million and non-GAAP diluted EPS of $3.40 plus or minus $0.20, indicating expectations of continued operational momentum and further margin expansion.
4. Analysts’ Outlook
Analysts project fiscal 2026 diluted EPS of $11.76, reflecting 62% year-over-year growth, and note that Seagate has exceeded consensus EPS estimates in each of the past four quarters, reinforcing confidence in its areal-density-driven storage roadmap.