Press release
Seagate Technology Reports Fourth Quarter and Fiscal Year 2022 Financial Results
Fiscal Q4 2022 Highlights - Revenue of $2.63 billion - GAAP gross margin of 28.9%; non-GAAP gross margin of 29.3% - GAAP diluted earnings per share (EPS) of
About this update from Seagate Technology Holdings Plc
[{"type":"text","content":"\nFiscal Q4 2022 Highlights\n- Revenue of $2.63 billion\n- GAAP gross margin of 28.9%; non-GAAP gross margin of 29.3%\n- GAAP diluted earnings per share (EPS) of $1.27; non-GAAP diluted EPS of $1.59\n\nFiscal Year 2022 Highlights\n- Revenue of $11.66 billion\n- GAAP gross margin of 29.7%; non-GAAP gross margin of 30.1%\n- GAAP operating margin of 16.8%; non-GAAP operating margin of 18.4%\n- GAAP diluted EPS of $7.36; non-GAAP diluted EPS of $8.18\n- Cash flow from operations of $1.7 billion and free cash flow of $1.3 billion\n- Returned $2.4 billion to shareholders through dividends and share repurchases\n- Revenue from mass capacity storage markets increased 24% year-over-year and represented 74% of annual HDD revenue\n\n FREMONT, Calif.--(BUSINESS WIRE)--\nSeagate Technology Holdings plc (NASDAQ: STX) (the “Company” or “Seagate”) today reported financial results for its fourth quarter and fiscal year ended July 1, 2022.\n\n“Our June quarter results reflect stable mass capacity storage demand, offset by the impacts of Covid restrictive measures in Asia and weakening global economic conditions on our other end markets. These impacts were most pronounced in our consumer facing Legacy markets,” said Dave Mosley, Seagate’s chief executive officer.\n\n“The confluence of macro-related challenges is continuing into the September quarter. In this environment, we are reducing our production plans to maintain supply discipline as our customers manage through macro uncertainty and on-going non-HDD component shortages, and we are diligently managing expenses to protect profitability. Looking further ahead, I remain confident that the multiple secular growth trends fueling demand for data and mass capacity storage solutions remain intact. Seagate is well positioned for macro recovery with a strong product roadmap, deep customer relationships and proven track record for disciplined execution.”\n\n\n\nQuarterly Financial Results\n\n\n\n\n\n \n\n\n\nGAAP\n\n\n\n \n\n\n\nNon-GAAP\n\n\n\n\n\n \n\n\n\nFQ4 2022\n\n\n\n \n\n\n\nFQ4 2021\n\n\n\n \n\n\n\nFQ4 2022\n\n\n\n \n\n\n\nFQ4 2021\n\n\n\n\n\nRevenue ($M)\n\n\n\n$\n\n\n\n2,628\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n3,013\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n2,628\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n3,013\n\n\n\n \n\n\n\n\n\nGross Margin\n\n\n\n28.9\n\n\n\n%\n\n\n\n \n\n\n\n29.4\n\n\n\n%\n\n\n\n \n\n\n\n ...