Western Digital (WDC) Tops Q3 EPS by 20c, Guidance Misses Consensus

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Go back to Western Digital (WDC) Tops Q3 EPS by 20c, Guidance Misses Consensus

Western Digital Reports Fiscal Third Quarter 2023 Financial Results

May 8, 2023 4:05 PM EDT

News Summary

Third quarter revenue was $2.8 billion, at the high end of the guidance range. Third quarter GAAP earnings per share (EPS) was $(1.82) and Non-GAAP EPS was $(1.37), which includes $200 million of underutilization related charges in Flash and HDD. Third quarter GAAP operating loss was $472 million and Non-GAAP operating loss was $304 million. Expect fiscal fourth quarter 2023 revenue to be in the range of $2.40 billion to $2.60 billion. Expect Non-GAAP EPS in the range of $(2.20) to $(1.90) which includes $220 to $240 million of underutilization charges in Flash and HDD.

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