Recently, Seagate recently released its first-quarter 2021 financial report. In this quarter, the company’s revenue was US$2.73 billion, a year-on-year increase of 0.48%.
GAAP adjusted gross profit margin was 27.1%, the operating profit margin was 14.1%, and net income was US$329 million, a year-on-year increase of 2.8%.
Seagate officially said, “Seagate’s sales of large-capacity in-line storage devices continue to grow and set new records, and have achieved good financial results.
Our revenue and profitability have increased, and customer demand for large-capacity hard drives continues to grow .”Seagate predicts that the current hard disk industry sales volume has a continuous growth trend.
It is expected that its performance in the second quarter of this year will increase slightly. Seagate’s Q1 operating cash flow in 2021 was US$378 million and free cash flow was US$274 million.
During this period, the company paid $161 million in dividends. Seagate expects revenue in the second quarter of 2021 to reach US$2.85 billion, a fluctuation of US$150 million. Non-GAAP adjusted earnings per share are expected to be $1.6 USD, up or down by USD 0.15.
(Via)
