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Oct 02, 2020
Western Digital Q1 2021 Earnings Report
Reported a decrease in revenue, but an increase in non-GAAP EPS compared to the same quarter last year.
Key Takeaways
Western Digital reported first quarter revenue of $3.9 billion, a 3% decrease year-over-year. GAAP EPS was ($0.20) and non-GAAP EPS was $0.65. The company expects fiscal second quarter revenue to be between $3.75 billion and $3.95 billion, with non-GAAP EPS between $0.40 and $0.60.
First quarter revenue was $3.9 billion, down 3% year-over-year.
Client Devices revenue increased 20%, while Data Center Devices and Solutions revenue declined 26%, and Client Solutions declined 5% year-over-year.
GAAP earnings per share was ($0.20) and non-GAAP EPS was $0.65, including $28 million in COVID-19 related costs.
Generated operating cash flow of $363 million and free cash flow of $196 million in the first quarter.
Forward Guidance
Western Digital expects fiscal second quarter 2021 revenue to be in the range of $3.75 billion to $3.95 billion with non-GAAP EPS in the range of $0.40 to $0.60. Non-GAAP EPS outlook includes costs related to COVID-19.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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