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Dec 27, 2024
Western Digital Q2 2025 Earnings Report
Reported a sequential revenue increase driven by Cloud and Consumer segments, with strong HDD performance offsetting Flash pricing pressures.
Key Takeaways
Western Digital reported fiscal second quarter 2025 results with revenue of $4.29 billion, a 5% increase sequentially. GAAP EPS was $1.63 and Non-GAAP EPS was $1.77. The company anticipates fiscal third quarter revenue to be between $3.75 billion and $3.95 billion.
Second quarter revenue reached $4.29 billion, marking a 5% sequential increase.
GAAP EPS for the second quarter stood at $1.63, while Non-GAAP EPS was $1.77.
Cloud revenue experienced a 6% sequential growth, while Client revenue decreased by 3% sequentially, and Consumer revenue increased by 14% sequentially.
The company expects fiscal third quarter 2025 revenue to range from $3.75 billion to $3.95 billion.
Forward Guidance
Western Digital expects fiscal third quarter 2025 revenue to be in the range of $3.75 billion to $3.95 billion and Non-GAAP EPS in the range of $0.90 to $1.20.
Positive Outlook
- Revenue expected to be between $3.75 billion and $3.95 billion.
- Gross margin expected to be between 31.0% and 33.0% (GAAP).
- Gross margin expected to be between 31.5% and 33.5% (Non-GAAP).
- Operating expenses expected to be between $790 million and $810 million (GAAP).
- Operating expenses expected to be between $700 million and $720 million (Non-GAAP).
Challenges Ahead
- Interest and other expense, net expected to be approximately $100 million.
- Tax rate is expected to be between 14.0% and 16.0% (Non-GAAP).
- Diluted earnings per share expected to be between $0.90 and $1.20 (Non-GAAP).
- Diluted shares outstanding expected to be approximately 358 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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