Press release
Western Digital Reports Fiscal First Quarter 2023 Financial Results
News Summary First quarter revenue was $3.74 billion, above the midpoint of guidance. First quarter GAAP earnings per share (EPS) was $0.08 and Non-GAAP EPS
About this update from Western Digital Corporation
[{"type":"text","content":"\n News Summary\n\n\nFirst quarter revenue was $3.74 billion, above the midpoint of guidance.\n\n\nFirst quarter GAAP earnings per share (EPS) was $0.08 and Non-GAAP EPS was $0.20, non-GAAP EPS was impacted by higher tax rate.\n\n\nFirst quarter GAAP operating income was $158 million and Non-GAAP operating income was $307 million.\n\n\nExpect fiscal second quarter 2023 revenue to be in the range of $2.90 billion to $3.10 billion with Non-GAAP EPS in the range of $(0.25) to $0.05.\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nWestern Digital Corp. (Nasdaq: WDC) today reported fiscal first quarter 2023 financial results.\n\n“I am pleased to see the Western Digital team work together to deliver revenue at the upper half of the guidance range and operating income at the upper half as implied by the midpoints of our guidance, in the midst of an incredibly dynamic and challenging macroeconomic environment,” said David Goeckeler, Western Digital CEO. “Overall, the organizational and portfolio improvements we have made over the past few years have equipped us to effectively manage through this consumer-led downturn, which is showing signs of stabilization. As we remain focused on innovation and execution, I am optimistic that Western Digital will emerge stronger as we continue to ramp multiple new products into data centers worldwide and market conditions improve.”\n\n\n\nQ1 2023 Financial Highlights \n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\nGAAP\n\n\n\n \n\n\n\nNon-GAAP\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\nQ1 2023\n\n\n\nQ4 2022\n\n\n\nQ/Q\n\n\n\n \n\n\n\nQ1 2023\n\n\n\nQ4 2022\n\n\n\nQ/Q\n\n\n\n\n\nRevenue ($M)\n\n\n\n \n\n\n\n$\n\n\n\n3,736\n\n\n\n \n\n\n\n$\n\n\n\n4,528\n\n\n\n \n\n\n\ndown 17%\n\n\n\n \n\n\n\n$\n\n\n\n3,736\n\n\n\n \n\n\n\n$\n\n\n\n4,528\n\n\n\n \n\n\n\ndown 17%\n\n\n\n\n\nGross Margin\n\n\n\n \n\n\n\n \n\n\n\n26.3\n\n\n\n%\n\n\n\n \n\n\n\n31.9\n\n\n\n%\n\n\n\ndown 5.6 ppt\n\n\n\n \n\n\n\n \n\n\n\n26.7\n\n\n\n%\n\n\n\n \n\n\n\n32.3\n\n\n\n%\n\n\n\ndown 5.6 ppt\n\n\n\n\n\nOperating Expenses ($M)\n\n\n\n \n\n\n\n$\n\n\n\n823\n\n\n\n \n\n\n\n$\n\n\n\n883\n\n\n\n \n\n\n\ndown 7%\n\n\n\n \n\n\n\n$\n\n\n\n689\n\n\n\n \n\n\n\n$\n\n\n\n760\n\n\n\n \n\n\n\ndown 9%\n\n\n\n\n\nOperating Income ($M)\n\n\n\n \n\n\n\n$\n\n\n\n158\n\n\n\n \n\n\n\n$\n\n\n\n562\n\n...