Western Digital Q1 2023 Earnings Report

Reported revenue above the midpoint of guidance and non-GAAP EPS was impacted by higher tax rate.

Key Takeaways

Western Digital reported fiscal first quarter 2023 financial results with revenue at $3.74 billion, above the midpoint of guidance. GAAP EPS was $0.08 and Non-GAAP EPS was $0.20. The company generated $6 million in cash flow from operations and ended the quarter with $2.05 billion of total cash and cash equivalents.

First quarter revenue was $3.74 billion, above the midpoint of guidance.

First quarter GAAP earnings per share (EPS) was $0.08 and Non-GAAP EPS was $0.20, non-GAAP EPS was impacted by higher tax rate.

First quarter GAAP operating income was $158 million and Non-GAAP operating income was $307 million.

Expect fiscal second quarter 2023 revenue to be in the range of $2.90 billion to $3.10 billion with Non-GAAP EPS in the range of $(0.25) to $0.05.

Total Revenue

$3.74B

Previous year: $5.05B