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Seagate Posts $335M Profit on $6.6B Revenue, Eyes AI Storage Growth

STX10-KFiling Date: 8/2/2024
Seagate Technology Holdings plc
Description

What this story covers

Seagate's 2024 10-K reveals 6 point 551 billion dollars revenue down 11 percent from softer demand, but gross margins rose to 23 percent via efficiencies, flipping net income to 335 million dollars from a loss. Focus on high-capacity HDDs for cloud/AI, with 1 point 4 billion dollars cash and 5 point 7 billion dollars debt. Risks include supply shortages and competition in booming 394 zettabytes datasphere.

Story snapshot

CompanySeagate Technology Holdings plc
TickerSTX
VariantStandard detailed
Duration12:29
Filing type10-K
PeriodAnnual 2024
IndustryTechnology
Accession0001137789-24-000068

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