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S SEAGATE SEAGATE TECHNOLOGY REPORTS FISCAL SECOND QUARTER 2021 FINANCIAL RESULTS Revenue of $ 2.62 billion GAAP operating margin of 13.3 % ; non - GAAP operating margin of 14.7 % GAAP diluted earnings per share ( EPS ) of $ 1.12 ; non - GAAP diluted EPS of $ 1.29 Cash flow from operations of $ 473 million and free cash flow of $ 314 million Returned $ 1.2 billion to shareholders through dividends and the repurchase of 18 million ordinary shares Declared cash dividend of $ 0.67 per share FREMONT , CA- January 21 , 2021 - Seagate Technology plc ( NASDAQ : STX ) ( the “ Company ” or “ Seagate ” ) today reported financial results for its fiscal second quarter ended January 1 , 2021 . " Seagate delivered strong , double - digit revenue , earnings and free cash flow growth in the December quarter supported by broad - based improvement across nearly every served market and geography , and we had solid customer demand for our mass capacity products , " said Dave Mosley , Seagate's chief executive officer . Quarterly Financial Results " We also achieved our technology milestone by shipping 20 - terabyte HAMR drives in calendar 2020 , paving the way for Seagate's continued success for years to come . As demand for data increases in both the cloud and at the edge , Seagate's new Lyve Storage Platform complements our HDD portfolio to help businesses address both the secular demand for mass capacity storage and the increasing complexity of managing data from edge - to - core cloud . We are well positioned to benefit from the tremendous opportunities we foresee ahead and remain focused on enhancing value for our customers , employees and shareholders . " Revenue ( $ M ) Gross Margin Operating Margin Net Income ( $ M ) Diluted Earnings Per Share $ $ FQ2 2021 2,623 GAAP 26.5 % 13.3 % 280 1.12 Investor Relations Contact : Shanye Hudson , ( 510 ) 661-1714 shanye.hudson@seagate.com $ Media Contact : Gregory Belloni , ( 415 ) 235-9092 gregory.belloni@seagate.com FQ2 2020 2,696 28.1 % 14.2 % 318 1.20 $ FQ2 2021 Non - GAAP 2,623 26.8 % 14.7 % 323 1.29 FQ2 2020 2,696 28.7 % 15.7 % 359 1.35 The Company generated $ 473 million in cash flow from operations and $ 314 million in free cash flow during the fiscal second quarter 2021. Seagate maintained a healthy balance sheet and during the fiscal second quarter 2021 , the Company paid cash dividends of $ 167 million and repurchased 18 million ordinary shares for $ 1 billion . Additionally , the Company raised $ 1 billion of debt and ended the fiscal second quarter with cash and cash equivalents totaling $ 1.8 billion . There were 240 million ordinary shares issued and outstanding as of the end of the quarter . For a detailed reconciliation of GAAP to non - GAAP results , see accompanying financial tables .