Western Digital (WDC) Stock Sinks 10% Following Q1 Beat & Mixed Guidance
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Western Digital Reports Fiscal First Quarter 2022 Financial Results
October 28, 2021 4:01 PM EDTNews Summary
First quarter revenue was $5.1 billion, up 29% year-over-year (YoY). Cloud revenue increased 72%, Client revenue increased 6%, and Consumer revenue increased 10% YoY. First quarter GAAP earnings per share (EPS) was $1.93 and non-GAAP EPS was $2.49. Non-GAAP EPS included $56 million in COVID-related expenses. Generated operating cash flow of $521 million and free cash flow of $224 million. On October 22, 2021, repaid remaining Term-Loan B balance of $943 million. Expecting fiscal second quarter 2022 revenue to be in the range of $4.70 billion to $4.90 billion with non-GAAP EPS in the range of $1.95 to $2.25.SAN JOSE,... More
