Western Digital Reports Fiscal First Quarter 2021 Financial Results
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Western Digital (WDC) Tops Q1 EPS by 11c, Revenues Beat; Offers 2Q EPS Outlook Below Consensus, Provides 2Q Revenue Guidance
October 28, 2020 4:13 PM EDTWestern Digital (NASDAQ: WDC) reported Q1 EPS of $0.65, $0.11 better than the analyst estimate of $0.54. Revenue for the quarter came in at $3.9 billion versus the consensus estimate of $3.83 billion.
News 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... More