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Jun 30, 2023
Western Digital Q4 2023 Earnings Report
Reported fiscal fourth quarter and fiscal year 2023 financial results, with revenue above expectation and delivery of industry-leading products.
Key Takeaways
Western Digital reported Q4 2023 revenue of $2.7 billion, a 5% decrease sequentially. GAAP EPS was $(2.27) and Non-GAAP EPS was $(1.98). The company expects Q1 2024 revenue to be between $2.55 billion and $2.75 billion.
Q4 revenue was $2.7 billion, down 5% sequentially.
Cloud revenue decreased 18% sequentially, while Client revenue increased 6% and Consumer revenue increased 3%.
GAAP EPS was $(2.27) and Non-GAAP EPS was $(1.98), including $211 million of underutilization related charges.
Expect fiscal first quarter 2024 revenue to be in the range of $2.55 billion to $2.75 billion.
Forward Guidance
Western Digital expects fiscal first quarter 2024 revenue to be in the range of $2.55 billion to $2.75 billion and Non-GAAP EPS in the range of $(2.10) to $(1.80).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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