🔹 Revenue: $2.63B (Est. $2.55B) 🟢; UP +21% YoY
🔹 Adjusted EPS: $2.61 (Est. $2.40) 🟢
🔹 Non-GAAP Gross Margin: 40.1% (record)
🔹 Free Cash Flow: $427M
Guidance (Q2):
🔹 Revenue: $2.6B–$2.8B (Est. $2.67B) 🟡
🔹 Adjusted EPS: $2.55–$2.95 (Est. $2.67) 🟡
Capital Returns:
🔹 Dividend: Raised ~3% to $0.74/share; $182M returned (dividends + buybacks) in Q1
Product:
🔹 Ramping Mozaic HAMR high-capacity drives; qualified with five of the world’s largest cloud customers
CEO Commentary:
🔸 “Revenue grew 21% YoY with non-GAAP EPS above the high end of guidance.”
🔸 “We’re ramping areal-density-leading Mozaic HAMR products to meet robust cloud demand and AI-driven use cases.”