Summit Insights Downgrades Western Digital Corp. (WDC) to Hold, 'further improvements to profitability are now limited'

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Go back to Summit Insights Downgrades Western Digital Corp. (WDC) to Hold, 'further improvements to profitability are now limited'

Western Digital Reports Fiscal Fourth Quarter and Fiscal Year 2024 Financial Results

July 31, 2024 4:05 PM EDT

 News Summary

Fourth quarter revenue was $3.76 billion, up 9% sequentially (QoQ). Cloud revenue increased 21% (QoQ), Client revenue increased 3% (QoQ) and Consumer revenue decreased 7% (QoQ). Fiscal year 2024 revenue was $13.00 billion. Fourth quarter GAAP earnings per share (EPS) was $0.88 and Non-GAAP EPS was $1.44. Fiscal year 2024 GAAP EPS was $(1.72) and Non-GAAP EPS was $(0.20). Expect fiscal first quarter 2025 revenue to be in the range of $4.00 billion to $4.20 billion. Expect Non-GAAP EPS in the range of $1.55 to $1.85.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Western Digital Corp. (Nasdaq: WDC) today... More