Seagate stock fell 4.1% to $640.45 in Nasdaq trading on October 28, 2026, despite the data-storage company reporting higher revenue and earnings for its fiscal first quarter.

Seagate stock and first-quarter results

The shares were down $27.40 from their previous close of $667.85. They opened at $648.58 and traded between $621.55 and $652.00 during the session. The quoted price was an intraday figure, not a closing price.

In its fiscal first-quarter results, Seagate reported revenue of $4.23 billion, up 61% from $2.63 billion a year earlier. Net income rose to $1.76 billion, or $7.59 per diluted share, from $549 million, or $2.43 per share.

Adjusted net income was $1.78 billion, or $7.68 per diluted share. The quarter ended October 2, 2026.

Second-quarter outlook

For its fiscal second quarter of 2027, Seagate forecast revenue of $4.8 billion, plus or minus $100 million, and adjusted diluted earnings of $9.20 per share, plus or minus $0.20. Those ranges are $4.7 billion to $4.9 billion for revenue and $9.00 to $9.40 for earnings per share.

The company also declared a quarterly dividend of $0.76 per share, payable January 7, 2027, to shareholders of record on December 23, 2026.

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