Seagate Q2 Revenue Up 48.5% YoY, Beating Estimates

Seagate (NASDAQ:STX) reported Q2 revenues of $3.63 billion, up 48.5% YoY, exceeding analysts' expectations by 3.6%. The company's strong performance was driven by robust cloud data center demand and disciplined execution. The stock is up 11.2% since reporting and currently trades at $831.10. The semiconductor industry as a whole reported a strong Q2, with revenues beating consensus estimates by 3.7% and next quarter's revenue guidance 6.2% above.