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Earnings Updates | Q1 2025

January 29, 2025by toleg.work
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The corporate reporting period has is starting.

Last week, 40 companies from the S&P 500 index reported.

Today, we will consider the results of Seagate Technology Holdings. Its revenue amounted to $2.3B. It grew by +10.6% compared to the corresponding value for the previous quarter and exceeded analysts’ expectations by +0.2%. Let’s analyze the company’s business in more detail.

Seagate Technology Holdings is one of the major suppliers of hard disk drives for data storage in the corporate and consumer markets. The company forms a duopoly in the market with its main competitor, Western Digital, which controls about 40% of the hard disk drive market.

The company’s revenues increased by +53% compared to the same quarter last year. The company is introducing new technologies, including thermal magnetic recording, which reduces the cost of manufacturing products. Seagate annually invests more than $500 million in capital expenditures for the production of hard drives and more than $1 billion in research and development (R&D).

Manufacturing costs account for 65% of the revenue structure, and gross margin for 35%. Over the past quarter, the company earned a profit of $336M and its market capitalization is $22B.

After the publication of the report, Seagate Technology Holdings shares rose by +6.9% to reach $108 per share. Market participants were satisfied with the financial results and reacted positively to the company’s development prospects.

**growth – % ratio of the amount of revenue for the last 4 quarters compared to this value calculated for the previous quarter

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