Western Digital Q3 2021 Earnings Report

Reported solid results above the guidance range, driven by increasing momentum of energy-assisted drives and second-generation NVMe enterprise SSDs, improving NAND flash pricing trends, along with continued accelerated digital transformation across end markets.

Key Takeaways

Western Digital reported Q3 2021 revenue of $4.1 billion, a 1% decrease year-over-year. GAAP EPS was $0.63, and non-GAAP EPS was $1.02. The company generated $116 million in operating cash flow and a negative $11 million in free cash flow. They are expecting Q4 2021 revenue between $4.40 billion and $4.60 billion, with non-GAAP EPS between $1.30 and $1.60.

Third quarter revenue was $4.1 billion, down 1% year-over-year.

Client Devices revenue increased 10%, Data Center Devices and Solutions revenue declined 19%, and Client Solutions revenue increased 8% year-over-year.

Third quarter GAAP earnings per share was $0.63 and non-GAAP EPS was $1.02.

Generated operating cash flow of $116 million and free cash flow was negative $11 million in the third quarter.

Total Revenue

$4.14B

Previous year: $4.18B