Press release
Western Digital Reports Fiscal First Quarter 2021 Financial Results
News Summary First quarter revenue was $3.9 billion, down 3% year-over-year (YoY). Client Devices increased 20%, Data Center Devices and Solutions revenue
About this update from Western Digital Corporation
[{"type":"text","content":"\nNews Summary\n\n\nFirst quarter revenue was $3.9 billion, down 3% year-over-year (YoY). Client Devices increased 20%, Data Center Devices and Solutions revenue declined 26%, and Client Solutions declined 5% YoY.\n\n\nFirst quarter GAAP earnings per share (EPS) was ($0.20) and non-GAAP EPS was $0.65. Both GAAP and non-GAAP EPS include $28 million in costs related to COVID-19 in the first quarter.\n\n\nGenerated operating cash flow of $363 million and free cash flow of $196 million in the first quarter.\n\n\nExpecting fiscal second quarter 2021 revenue to be in the range of $3.75 billion to $3.95 billion with non-GAAP EPS in the range of $0.40 to $0.60. Non-GAAP EPS outlook includes costs related to COVID-19.\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nWestern Digital Corp. (Nasdaq: WDC) today reported fiscal first quarter 2021 financial results.\n\n“I am pleased with our results, as we continued to focus our execution on the massive market opportunity for data storage technology that stems from the ongoing expansion of cloud infrastructure connected to intelligent endpoints and powered by high performance networks,” said David Goeckeler, Western Digital CEO. “While we are still managing through macro uncertainty, during the quarter we benefitted from strength particularly in the retail sector, driven by favorable macro and market dynamics, as well as the brand recognition of our products. Our diversified storage portfolio strategy implemented through our recently announced organizational structure will enable us to accelerate growth, improve our focus, and drive sustainable, long-term shareholder value.”\n\nQ1 2021 Financial Highlights\n\n\n\n \n\n\n\n \n\n\n\nGAAP\n\n\n\n \n\n\n\nNon-GAAP\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\nQ1 2021\n\n\n\nQ1 2020\n\n\n\nvs. Q1 2020\n\n\n\n \n\n\n\nQ1 2021\n\n\n\nQ1 2020\n\n\n\nvs. Q1 2020\n\n\n\n\n\nRevenue ($M)\n\n\n\n \n\n\n\n$3,922\n\n\n\n$4,040\n\n\n\ndown 3%\n\n\n\n \n\n\n\n$3,922\n\n\n\n$4,040\n\n\n\ndown 3%\n\n\n\n\n\nGross Margin\n\n\n\n \n\n\n\n23.0%\n\n\n\n18.8%\n\n\n\nup 4.2 ppt\n\n\n\n \n\n\n\n26.3%\n\n\n\n24.8%\n\n\n\nup 1.5 ppt\n\n\n\n\n\nOperating Expenses ($M)\n\n\n\n \n\n\n\n$834\n\n\n\n$887\n\n\n\ndown 6%\n\n\n\n \n\n\n\n$708\n\n\n\n$767\n\n\n\ndown 8%\n\n\n\n\n\nOperating Income (Loss) ($M)\n\n\n\n ...