[Seagate Technology's Q1 Revenue Surges 61% to Exceed Expectations, Stock Price Drops Over 8% in After-Hours Trading] Odaily Planet Daily reports that Seagate Technology announced its Q1 2027 financial results, with revenue reaching $4.23 billion, a year-over-year increase of approximately 61%, exceeding market expectations of $4.11 billion; adjusted earnings per share were $7.68, higher than the expected $7.39. Driven by the construction of AI infrastructure, demand for the company's data storage products continued to grow. In terms of profitability, Seagate Technology's Q1 GAAP gross margin rose to 57.3% from 39.4% in the same period last year, and non-GAAP operating margin rose to 50.7% from 29%. Quarterly operating cash flow reached $1.69 billion, and free cash flow was $1.479 billion, a year-over-year increase of approximately 246%, with both gross margin and free cash flow reaching record highs. The company expects second-quarter revenue of $4.8 billion, plus or minus $100 million; adjusted earnings per share are expected to be $9.20, plus or minus $0.20, both exceeding market expectations. Seagate Technology CEO Dave Mosley stated that the demand for data creation, storage, and reuse driven by AI continues to grow, and the company's HAMR technology will further improve hard drive storage density. Despite the better-than-expected results and guidance, Seagate Technology's stock price fell more than 8% in after-hours trading, according to MSX.COM data. The stock closed at $667.85 in regular trading that day, and has risen nearly 150% year-to-date.