Seagate Know-how Holdings plc (NASDAQ:STX) Financial institution of America Securities 2025 International Know-how Convention June 3, 2025 1:00 PM ET
Firm Individuals
Gianluca Romano – CFO & EVP
Convention Name Individuals
Wamsi Mohan – Financial institution of America
Wamsi Mohan
First day yr once more this yr in San Francisco. I am Wamsi Mohan. I cowl IT {hardware}, provide chain for the Financial institution. Delighted to welcome Seagate once more to our convention once more this yr. We have now EVP, CFO, Gianluca Romano, who most of you might be already aware of, if not all of you. Thanks a lot, Gianluca, for taking the time to do that.
Gianluca Romano
Thanks very a lot, Wamsi. It is at all times good to be right here with you.
Wamsi Mohan
Incredible. Sure, likewise. So that you simply hosted a fairly bullish Analyst Day. And I’d say, a few of your targets. They had been materially in regards to the final time you had spoken about any of those numbers. And so perhaps for context, it could be useful to listen to from you what has modified within the business out of your perspective that’s enabling this sort of monetary profile?
Gianluca Romano
I’d say, normally, the change is a greater alignment between exabyte progress after which income progress of one thing that we now have not seen up to now. Previously, we now have at all times seen charge and good improve in exabyte. We had just a few slides indicating the previous progress. Yearly, exabyte had been rising, however we did not have the identical improve in income. Principal purpose was an oversupply state of affairs within the business.
Now transferring from an enormous degree of consumer enterprise into an important cloud enterprise, however ranging from a really small exabyte numbers. It took a sure variety of years. And naturally, when you have got oversupply all of the profit that you simply