Western Digital (WDC) Tops Q1 EPS by 15c

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Go back to Western Digital (WDC) Tops Q1 EPS by 15c

Western Digital Reports Fiscal First Quarter 2024 Financial Results

October 30, 2023 8:01 AM EDT

News Summary

First quarter revenue was $2.75 billion, up 3% sequentially (QoQ). Cloud revenue decreased 12% (QoQ), Client revenue increased 11% (QoQ) and Consumer revenue increased 14% (QoQ). First quarter GAAP earnings per share (EPS) was $(2.17) and Non-GAAP EPS was $(1.76), which includes $225 million of underutilization-related charges in Flash and HDD. Expect fiscal second quarter 2024 revenue to be in the range of $2.85 billion to $3.05 billion. Expect Non-GAAP EPS in the range of $(1.35) to $(1.05), which includes $110 to $130 million of underutilization-related charges in Flash and HDD.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Western Digital Corp. (Nasdaq:... More

Western Digital to Form Two Independent Public Companies Focused on Data Storage Growth in HDD and Flash Markets

October 30, 2023 8:00 AM EDT

Separation Represents Value-Accretive Next Step for Both HDD and Flash

SAN JOSE, Calif.--(BUSINESS WIRE)-- Western Digital Corp. (NASDAQ: WDC) (Western Digital or the Company) today announced its Board of Directors has unanimously approved a plan to separate its HDD and Flash businesses. Creating two independent, public companies with market-specific, strategic focus, the companys separation will better position each franchise to execute innovative technology and product development, capitalize on unique growth opportunities, extend respective leadership positions, and operate more efficiently with distinct capital structures. The transaction also provides strategic... More