Western Digital (WDC) Misses Q2 EPS by 28c, Guidance Misses

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Go back to Western Digital (WDC) Misses Q2 EPS by 28c, Guidance Misses

Western Digital Reports Fiscal Second Quarter 2023 Financial Results

January 31, 2023 4:05 PM EST

News Summary

Second quarter revenue was $3.11 billion, at the high end of the guidance range. Second quarter GAAP earnings per share (EPS) was $(1.40) and Non-GAAP EPS was $(0.42), which includes $100 million of underutilization related charges in HDD. Second quarter GAAP operating loss was $321 million and Non-GAAP operating loss was $119 million. Expect fiscal third quarter 2023 revenue to be in the range of $2.60 billion to $2.80 billion. Expect Non-GAAP EPS in the range of $(1.70) to $(1.40) which includes underutilization charges in flash and HDD totaling $250 million, with flash driven by a 30% reduction in... More