Seagate posts record $4.8B revenue on hyperscale HAMR demand

Seagate reported record first-quarter FY2027 revenue of $4.8 billion versus $4.1 billion guidance and shipped 220 EB of capacity. Hyperscale cloud buyers drove demand for its HAMR-based Mozaic 4 drives, with data centers accounting for 90% of shipped capacity.

• Revenue hit $4.8B against $4.1B guidance, up over 60% year-over-year
• Shipped 220 EB, including a record 198 EB of nearline drives to data centers
• 44 TB Mozaic 4 drives are ramping with two leading CSPs
• Gross margin reached a record 57.3%, EPS came in at $7.68