Western Digital (WDC) Tops Q1 EPS by 11c, Revenues Beat; Offers 2Q EPS Outlook Below Consensus, Provides 2Q Revenue Guidance
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Western Digital Reports Fiscal First Quarter 2021 Financial Results
October 28, 2020 4:10 PM EDTNews Summary
First quarter revenue was $3.9 billion, down 3% year-over-year (YoY). Client Devices increased 20%, Data Center Devices and Solutions revenue declined 26%, and Client Solutions declined 5% YoY. First quarter GAAP earnings per share (EPS) was ($0.20) and non-GAAP EPS was $0.65. Both GAAP and non-GAAP EPS include $28 million in costs related to COVID-19 in the first quarter. Generated operating cash flow of $363 million and free cash flow of $196 million in the first quarter. Expecting fiscal second quarter 2021 revenue to be in the range of $3.75 billion to $3.95 billion with non-GAAP EPS in the range of $0.40 to... More