Press release
Western Digital Reports Fiscal Fourth Quarter and Fiscal Year 2022 Financial Results
News Summary Fourth quarter revenue was $4.53 billion, down 8% year-over-year (YoY). Cloud revenue increased 5%, Client revenue declined 14%, and Consumer
About this update from Western Digital Corporation
[{"type":"text","content":"\nNews Summary\n\n\nFourth quarter revenue was $4.53 billion, down 8% year-over-year (YoY). Cloud revenue increased 5%, Client revenue declined 14%, and Consumer revenue declined 23% YoY. Fiscal year 2022 revenue was $18.79 billion, up 11% YoY.\n\n\nFourth quarter GAAP earnings per share (EPS) was $0.95 and Non-GAAP EPS was $1.78. Fiscal year 2022 GAAP EPS was $4.75 and non-GAAP EPS was $8.22.\n\n\nGenerated operating cash flow of $295 million and free cash flow of $(97) million in the fourth quarter. Generated operating cash flow of $1.88 billion and free cash flow of $0.68 billion in fiscal year 2022.\n\n\nExpect fiscal first quarter 2023 revenue to be in the range of $3.60 billion to $3.80 billion with Non-GAAP EPS in the range of $0.35 to $0.65.\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nWestern Digital Corp. (Nasdaq: WDC) today reported fiscal fourth quarter and fiscal year 2022 financial results.\n\n\"I am proud of our team for driving strong fiscal year 2022 performance, during which revenue grew 11% and non-GAAP EPS increased 81%, demonstrating progress in unlocking the earnings potential of our business,” said David Goeckeler, Western Digital CEO. “In addition to strong financial performance, fiscal year 2022 was a hallmark year for Western Digital from an innovation, product development and execution perspective. The combination of our innovation engine and the multiple channels to deliver our products to the market puts Western Digital in a great position to capitalize on the large and growing opportunities in storage ahead even in the midst of macro dynamics weighing on near-term demand.”\n\n\n\nQ4 2022 Financial Highlights\n\n\n\n\n\n \n\n\n\n \n\n\n\nGAAP\n\n\n\n \n\n\n\nNon-GAAP\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\nQ4 2022\n\n\n\nQ3 2022\n\n\n\nQ/Q\n\n\n\n \n\n\n\nQ4 2022\n\n\n\nQ3 2022\n\n\n\nQ/Q\n\n\n\n\n\nRevenue ($M)\n\n\n\n \n\n\n\n$4,528\n\n\n\n$4,381\n\n\n\nup 3%\n\n\n\n \n\n\n\n$4,528\n\n\n\n$4,381\n\n\n\nup 3%\n\n\n\n\n\nGross Margin\n\n\n\n \n\n\n\n31.9%\n\n\n\n27.0%\n\n\n\nup 4.9 ppt\n\n\n\n \n\n\n\n32.3%\n\n\n\n31.7%\n\n\n\nup 0.6 ppt\n\n\n\n\n\nOperating Expenses ($M)\n\n\n\n \n\n\n\n$883\n\n\n\n$857\n\n\n\nup 3%\n\n\n\n \n\n\n\n$760\n\n\n\n$740\n\n\n\nup 3%\n\n\n\n\n\nOperating Income ($M)\n\n\n\n \n\n\n\n$562\n\n\n\n$324\n\...