Press release
Western Digital Reports Fiscal Fourth Quarter and Fiscal Year 2024 Financial Results
News Summary Fourth quarter revenue was $3.76 billion, up 9% sequentially (QoQ). Cloud revenue increased 21% (QoQ), Client revenue increased 3% (QoQ) and
About this update from Western Digital Corporation
[{"type":"text","content":"\n News Summary\n\n\n\nFourth quarter revenue was $3.76 billion, up 9% sequentially (QoQ). Cloud revenue increased 21% (QoQ), Client revenue increased 3% (QoQ) and Consumer revenue decreased 7% (QoQ). Fiscal year 2024 revenue was $13.00 billion.\n\n\n\nFourth quarter GAAP earnings per share (EPS) was $0.88 and Non-GAAP EPS was $1.44. Fiscal year 2024 GAAP EPS was $(1.72) and Non-GAAP EPS was $(0.20).\n\n\n\nExpect fiscal first quarter 2025 revenue to be in the range of $4.00 billion to $4.20 billion.\n\n\n\nExpect Non-GAAP EPS in the range of $1.55 to $1.85.\n\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nWestern Digital Corp. (Nasdaq: WDC) today reported fiscal fourth quarter and fiscal year 2024 financial results.\n\n\n“Our fourth quarter and fiscal year 2024 results are reflective of the diverse and innovative portfolio we have developed in alignment with our strategic roadmap. Together, with the structural changes we have made to strengthen our operations, we are benefitting from the broad recovery we are seeing across our end markets and structurally improving through-cycle profitability for both Flash and HDD,” said David Goeckeler, Western Digital CEO.\n\n\n“The emergence of the AI Data Cycle marks a transformational period within our industry that will drive fundamental shifts across our end markets, increasing the need for storage and creating new demand drivers. As we look ahead, we are confident in our ability to leverage our technology leadership position to capitalize on these exciting growth opportunities and deliver value for our customers,” continued David Goeckeler.\n\n\nQ4 2024 Financial Highlights\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nGAAP\n\n\n\n\n\n\n \n\n\n\n\n\n\nNon-GAAP\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nQ4 2024\n\n\n\n\n\n\nQ3 2024\n\n\n\n\n\n\nQ/Q\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ4 2024\n\n\n\n\n\n\nQ3 2024\n\n\n\n\n\n\nQ/Q\n\n\n\n\n\n\n\n\nRevenue ($M)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$3,764\n\n\n\n\n\n\n$3,457\n\n\n\n\n\n\nup 9%\n\n\n\n\n\n\n \n\n\n\n\n\n\n$3,764\n\n\n\n\n\n\n$3,457\n\n\n\n\n\n\nup 9%\n\n\n\n\n\n\n\n\nGross Margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n35.9%\n\n\n\n\n\n\n29.0%\n\n\n\n\n\n\nup 6.9 ppt\n\n\n\n\n\n\n \n\n\n\n\n\n\n36.3%\n\n\n\n\n\n\n29.3%\n\n\...