Western Digital Q1 2024 Earnings Report
Key Takeaways
Western Digital reported Q1 2024 revenue of $2.75 billion, a 3% increase sequentially. GAAP EPS was $(2.17) and Non-GAAP EPS was $(1.76), which includes $225 million of underutilization-related charges. The company expects Q2 2024 revenue to be between $2.85 billion and $3.05 billion.
First quarter revenue was $2.75 billion, up 3% sequentially (QoQ).
Cloud revenue decreased 12% (QoQ), Client revenue increased 11% (QoQ) and Consumer revenue increased 14% (QoQ).
First quarter GAAP earnings per share (EPS) was $(2.17) and Non-GAAP EPS was $(1.76), which includes $225 million of underutilization-related charges in Flash and HDD.
Expect fiscal second quarter 2024 revenue to be in the range of $2.85 billion to $3.05 billion.
Western Digital
Western Digital
Western Digital Revenue by Segment
Forward Guidance
Western Digital expects fiscal second quarter 2024 revenue to be in the range of $2.85 billion to $3.05 billion and Non-GAAP EPS in the range of $(1.35) to $(1.05), which includes $110 to $130 million of underutilization-related charges in Flash and HDD.
Revenue & Expenses
Visualization of income flow from segment revenue to net income