Press release
Seagate Technology Reports Fiscal Second Quarter 2020 Financial Results
– Reported revenue of $2.7 billion – Expanded GAAP operating margin to 14.2%; non-GAAP operating margin to 15.7% – Delivered GAAP diluted earnings per share
About this update from Seagate Technology Holdings Plc
[{"type":"text","content":"\n– Reported revenue of $2.7 billion\n– Expanded GAAP operating margin to 14.2%; non-GAAP operating margin to 15.7%\n– Delivered GAAP diluted earnings per share (EPS) of $1.20; non-GAAP diluted EPS of $1.35\n– Returned $315 million to shareholders; declared cash dividend of $0.65 per share\n\n CUPERTINO, Calif.--(BUSINESS WIRE)--\nSeagate Technology plc (NASDAQ: STX) (the “Company” or “Seagate”) today reported financial results for its fiscal second quarter ended January 3, 2020.\n\n\n“In the December quarter, Seagate expanded non-GAAP operating margin by nearly 300 basis points and delivered non-GAAP EPS growth of more than 30% quarter-over-quarter while driving strong operational cash flow in an improving demand environment,” said Dave Mosley, Seagate’s chief executive officer.\n\n\n“We executed the company's fastest ever product ramp with our industry capacity leading 16-terabyte drives, which contributed to both sequential revenue growth and record exabyte shipments in the December quarter. We are poised to benefit from ongoing demand for mass capacity storage which we expect to offset typical seasonal declines in the legacy markets in the first half of the calendar year.”\n\n\n\n\nQuarterly Financial Results\n\n\n\n\n\n \n\n\n\n\nGAAP\n\n\n\n\n \n\n\n\nNon-GAAP\n\n\n\n\n\n \n\n\n\n\nFQ2 2020\n\n\n\n\n \n\n\n\nFQ2 2019\n\n\n\n\n \n\n\n\nFQ2 2020\n\n\n\n\n \n\n\n\nFQ2 2019\n\n\n\n\n\nRevenue ($M)\n\n\n\n\n$\n\n\n\n \n\n\n\n2,696\n\n\n\n \n\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n2,715\n\n\n\n \n\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n2,696\n\n\n\n \n\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n2,715\n\n\n\n \n\n\n\n\n\nGross Margin\n\n\n\n\n \n\n\n\n28.1\n\n\n\n%\n\n\n\n\n \n\n\n\n \n\n\n\n29.2\n\n\n\n%\n\n\n\n\n \n\n\n\n \n\n\n\n28.7\n\n\n\n%\n\n\n\n\n \n\n\n\n \n\n\n\n29.9\n\n\n\n%\n\n\n\n\n\nOperating Margin\n\n\n\n\n \n\n\n\n14.2\n\n\n\n%\n\n\n\n\n \n\n\n\n \n\n\n\n15.3\n\n\n\n%\n\n\n\n\n \n\n\n\n \n\n\n\n15.7\n\n\n\n%\n\n\n\n\n \n\n\n\n \n\n\n\n17.2\n\n\n\n%\n\n\n\n\n\nNet Income ($M)\n\n\n\n\n$\n\n\n\n \n\n\n\n318\n\n\n\n \n\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n384\n\n\n\n \n\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n359\n\n\n\n \n\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n432\n\n\n\n \n\n\n\n\n\nDiluted Earnings Per Share\n\n\n\n\n$\n\n\n\n \n\n\n\n1.20\n\n\n\n \n\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n1.34\n\n\n\n \n\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n1.35\n\n\n\...