Western Digital (WDC) Tops Q2 EPS by 44c, Offers Guidance

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Go back to Western Digital (WDC) Tops Q2 EPS by 44c, Offers Guidance

Western Digital Reports Fiscal Second Quarter 2022 Financial Results

January 27, 2022 4:01 PM EST

News Summary

Second quarter revenue was $4.83 billion, up 23% year-over-year (YoY). Cloud revenue increased by 89%, Client revenue declined by 1%, and Consumer revenue remained flat YoY. Second quarter GAAP earnings per share (EPS) was $1.79 and non-GAAP EPS was $2.30. Non-GAAP EPS included $70 million in COVID-related expenses. Generated operating cash flow of $666 million and free cash flow of $407 million. Completed debt refinancing transaction and reduced gross debt balance to $7.40 billion. Expect fiscal third quarter 2022 revenue to be in the range of $4.45 billion to $4.65 billion with non-GAAP EPS in the range of $1.50 to... More