Seagate Technology Holdings Plc (NASDAQ:STX) shares surged in premarket trading Wednesday after the company reported third-quarter results that topped Wall Street expectations.

Earnings Snapshot

Seagate reported quarterly earnings of $4.10 per share, beating the Street estimate of $3.50, according to Benzinga Pro data.

Quarterly revenue totaled $3.11 billion, exceeding the analyst consensus estimate of $2.95 billion.

For the fourth quarter, the company expects revenue of $3.45 billion, plus or minus $100 million, implying roughly 41% year-over-year growth at the midpoint. Seagate guided for non-GAAP diluted earnings of $5.00 per share, plus or minus $0.20.

The company said its outlook assumes minimal impact from tariffs and geopolitical conditions based on current expectations.

Conference Call Key Takeaways

Seagate's data center business accounted for 88% of total exabyte shipments and 80% of revenue, reflecting strong exposure ...