Revenue segments as reported by the company.

Flash

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Gross Margin

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Research and development

Selling, general and administrative

Employee termination, asset impairment and other charges

Business separation costs

Litigation matter

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Western Digital

SanDisk is a manufacturer of flash memory products, including memory cards and readers, USB flash drives, and solid state drives. As of February 2015, SanDisk is the third-largest manufacturer of flash memory. On May 12, 2016, SanDisk was acquired by hard drive manufacturer Western Digital in a US$19 billion deal.

SanDisk

HGST is a wholly owned subsidiary of Western Digital that sells hard disk drives, solid-state drives, and external storage products and services.

HGST

Western Digital Corp. engages in the development, manufacture, marketing, and sale of data storage devices and solutions. It operates through the Flash and Hard Disk Drive segments. The Flash segment represents flash-based data storage devices. The Hard Disk Drive segment provides hard disk storage solutions. The company was founded by Alvin B. Phillips in 1970 and is headquartered in San Jose, CA.

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Earnings data Q2 2025

Western Digital faces revenue decline but anticipates improvement and cost reduction

Western Digital's Q3 performance reflects a mixed picture with revenue and margin improvements in certain segments but overall decline in total revenue. The company is focused on proactive cost management, investment decisions, and automation to address ongoing financial challenges. Despite the current market environment, there are opportunities for improvement in the second half and cost reduction with BiCS8.

Western Digital faces revenue decline and operational challenges in Q2

Western Digital's Q2 performance reflects revenue decline, operational challenges, and strategic actions to reset the business. Despite facing headwinds in the cloud segment, the company is strengthening its financial position and focusing on cost reduction. Opportunities exist in market stabilization, product demand improvement, and strategic financial management.

Western Digital exceeds Q3 expectations amidst demand stabilization signs

Western Digital's Q3 performance showed resilience with signs of demand stabilization and strategic actions yielding positive results in both HDD and Flash businesses. While facing revenue challenges and margin pressures, the company remains focused on addressing network security incidents and optimizing cost management strategies.

Western Digital reports Q4 revenue growth and anticipates technology opportunities

Western Digital's Q4 performance showcased revenue growth in flash shipments, operational optimization, and stabilization of hard drive demand.
The company's strengths lie in executing an innovative product roadmap, enhancing liquidity, and anticipating growth in data center technologies.
Challenges include underutilization charges, margin management concerns, and the impact of lower CapEx on future investments.
Opportunities include expected growth in 26 terabyte drives, SMR technology adoption, and recovery in nearline units, presenting avenues for business expansion.

Western Digital plans to spin off flash business for growth

Western Digital's Q1 performance exceeded revenue expectations but reported a non-GAAP loss per share, with sequential growth in flash revenue and challenges in HDD revenue.
The company's strategic decision to spin off the flash business aims to unlock shareholder value and capitalize on the flash market's growth potential.
Opportunities lie in the HDD business's innovation and growth prospects, while challenges include underutilization charges and market weaknesses in China.
Dynamic management of wafer starts and a focus on profitability and free cash flow are key strategies moving forward for Western Digital.

Western Digital meets Q2 expectations, eyes NAND market growth

Western Digital's Q2 performance met expectations with strengths in flash business management and sequential revenue growth.
Challenges include operating losses, cash outflow, and client revenue decline due to flash ASP increase.
Opportunities lie in the growing demand for NAND bits at the edge, cost reduction trends, and emerging enterprise SSD market.
Overall, Western Digital's focus on product leadership and profitability improvement positions it for long-term success.

Western Digital exceeds Q3 expectations, focuses on AI growth

Western Digital's Q3 2024 earnings call showcased strong financial performance, exceeding revenue and EPS expectations.
The company is strategically positioned to capitalize on increasing AI demand, with a focus on profitability and market leadership.
Challenges include managing bit growth, monitoring AI impact on HDD demand, and maintaining gross margin targets.
Opportunities lie in leading technology development, tailored product offerings, and partnerships for market advantage.

Western Digital reports strong Q4 earnings, eyes growth opportunities

Western Digital's Q4 performance reflects solid revenue and earnings, driven by growth in Flash and HDD segments.
The company's strengths in innovation, market positioning, and strategic planning position it well for future growth.
While facing challenges such as dis-synergy costs and industry dynamics, Western Digital has opportunities to capitalize on market trends and drive further revenue growth.

Western Digital excels in Q1 2025 earnings, anticipates sequential growth

Western Digital's Q1 performance reflects a robust financial position with strong revenue and earnings growth. The company's strategic focus on Flash and HDD businesses, along with the ongoing separation process, positions it well for future opportunities and growth.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Western Digital has a 37% share in the hard drive market, and a possible merger of its Flash business with Kioxia could unlock shareholder value. The company's revenue has declined due to a cyclical pullback in industry demand, but it has beaten expectations for the top and bottom line. Activist firm Elliot management estimates following a merger or spin-off its equivalent share price could rise to over $100 per share, representing an ~150% upside.

Western Digital: Cyclical Value With Huge Merger Potential

The stock has gained 22% since September 2022 compared to the S&P 500, which gained about 20% during this period.

Will Western Digital Stock Rebound To Its Pre-Inflation Shock Highs?

The memory market is in one of its worst downturns, pushing two top players into merger discussions.

How 2 Chip Companies, Western Digital and Kioxia, Are Shaking Up the Memory Market

Advanced Micro Devices

Amazon

Dell Technologies

Intel

Lockheed Martin

Microsoft

Micron Technology

NVIDIA

Oracle

Seagate Technology Holdings PLC

AI's major bottleneck is a lack of computing power, with supercomputers needed for the training and testing of data. The amount of AI networks created and tested is set to increase exponentially over the next six years, with the computing power improving 250,000 times.

As AI Evolves, Which Stocks Make Sense? Kirk Spano With Ramy Taraboulsi

Western Digital's (WDC) new goals focus on powering its entire operations using solely renewable energy sources by 2030.

Western Digital (WDC) Announces New Sustainability Goals

Western Digital (WDC) reported earnings 30 days ago. What's next for the stock?

Western Digital (WDC) Up 17.5% Since Last Earnings Report: Can It Continue?

SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital Corp. (NASDAQ: WDC) today announced ambitious new corporate sustainability targets that extend the company's core commitment to positively impacting its global environmental footprint. The new targets focus on powering the company's operations with 100% renewable energy, achieving net zero Scope 1 and Scope 2 emissions across the company's operations, as well as water and waste reduction targets. Sustainability strategies are core to Western Di.

Western Digital Sets New Corporate Sustainability Targets and Commits to Net Zero Emissions by 2032

Western Digital Corporation (NASDAQ:WDC ) Bank of America 2023 Global Technology Conference June 6, 2023 2:20 PM ET Company Participants Wamsi Mohan - Senior Equity Research Analyst Conference Call Participants Peter Andrew - VP, FP&A Investor Relations Wissam Jabre - Chief Financial Officer Wamsi Mohan Welcome to BofA's Global Technology Conference. I'm Wamsi Mohan, I cover IT hardware here.

Western Digital Corporation (WDC) Bank of America Securities 2023 Global Technology Conference

Western Digital Corporation (NASDAQ:WDC ) 51st Annual J.P. Morgan Global Technology, Media and Communications Conference Call May 22, 2023 9:20 AM ET Company Participants Wissam Jabre - Chief Financial Officer David Goeckeler - Chief Executive Officer Conference Call Participants Harlan Sur - J.P.

Western Digital Corporation (WDC) 51st Annual J.P. Morgan Global Technology, Media and Communications Conference Transcript

Western Digital Corp. WDC, -1.29% shares slipped Friday as the data-storage device company's outlook was reduced by S&P Global Ratings, which held onto its “BB” issuer credit rating. S&P reduced Western Digital's outlook to negative from stable reflecting “increased risk of a downgrade” over the next 12 months.

S&P reduces Western Digital credit outlook on soft smartphone, PC demand

Western Digital (WDC) and Kioxia Holdings are moving forward with talks in a bid to improve their competitive position and weather the current market pressures.

Western Digital (WDC) and Kioxia Accelerate Merger Talks

Shares of Western Digital (NASDAQ: WDC ) are ripping higher on Monday. That's as WDC stock closed up 11%, despite an overall stock market that was just above flat for the session.

WDC Stock Alert: Why Western Digital Shares Are Up 10%

Most of Western Digital flash-memory chips are produced by the company's joint venture with Japan-based Kioxia.

Western Digital Stock Spikes. Merger With Kioxia Could Be Near: Report.

Kioxia Holdings Corp and Western Digital Corp are speeding up merger talks and nailing down a deal structure, two sources with direct knowledge of the matter said, as a slumping flash memory market puts fresh consolidation pressure on the world's No. 2 and No. 4 players.

Exclusive: Kioxia, Western Digital speed up merger talks as memory chip demand slumps -sources

Challenging flash pricing environment affects Western Digital (WDC) fiscal third quarter top line.

Western Digital (WDC) Q3 Earnings Beat, Revenues Fall Y/Y

Western Digital Corporation (NASDAQ:WDC ) Q3 2023 Earnings Conference Call May 8, 2023 4:30 PM ET Company Participants Peter Andrew - Vice President, FP&A Investor Relations David Goeckeler - Chief Executive Officer Wissam Jabre - Chief Financial Officer Conference Call Participants C.J. Muse - Evercore ISI Joe Moore - Morgan Stanley Aaron Rakers - Wells Fargo Sidney Ho - Deutsche Bank Mehdi Hosseini - SIG Shannon Cross - Credit Suisse Krish Sankar - TD Cowen Tom O'Malley - Barclays Toshiya Hari - Goldman Sachs Harlan Sur - JPMorgan Srini Pajjuri - Raymond James Karl Ackerman - BNP Paribas Vijay Rakesh - Mizuho Ananda Baruah - Loop Capital Operator Good afternoon, and thank you for standing by.

Western Digital Corporation (WDC) Q3 2023 Earnings Call Transcript

Western Digital (WDC) came out with a quarterly loss of $1.37 per share versus the Zacks Consensus Estimate of a loss of $1.55. This compares to earnings of $1.65 per share a year ago.

Western Digital (WDC) Reports Q3 Loss, Tops Revenue Estimates

Memory chip firm Western Digital Corp forecast fourth-quarter revenue and profit below Wall Street estimates on Monday, signaling that memory chip demand will take longer to recover as cloud spending also shrinks.

Western Digital Corp sees weak fourth quarter on slower recovery for memory chips

Western Digital Corp. WDC shares shifted between slight losses and gains in the extended session Monday after the data-storage device company's results came in better than expected but its forecast didn't. Western Digital shares hovered between a 2% loss and a 2% gain after hours, following a 2.2% gain in the regular session to close at $34.18.The company reported a third-quarter loss of $572 million, or $1.82 a share, versus net income of $25 million, or 8 cents a share, in the year-ago period.

Western Digital outlook worse than feared, after results top estimates

SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital Corp. (Nasdaq: WDC) today reported fiscal third quarter 2023 financial results. “Over the last several years, our team has focused on enhancing business agility and delivering a range of innovative, industry-leading products that address the increasing data storage demands of our customers,” said David Goeckeler, Western Digital CEO. “The groundwork we laid, combined with the actions we have taken since the beginning of this fiscal year to righ.

Western Digital Reports Fiscal Third Quarter 2023 Financial Results

On Friday, a month after the company revealed it had been the victim of a data breach, Western Digital published an update on the incident and notified customers that their data was stolen.

Western Digital tells customers that hackers stole their data

Apple

Comerica

PacWest Bancorp

Palantir Technologies

PayPal

Tyson Foods

Western Alliance Bancorporation

Zions Bancorp

Zscaler

U.S. stock futures pointed to a cautious start for Monday, as investors looked ahead to an important Federal Reserve lending survey, while regional banks continued to rise in premarket trading.

Stock futures mostly higher, with regional lenders continuing to rise as Fed loan data looms

Western Digital Corp said on Friday it had restored My Cloud services and expects customer access to its online store to be normalized in the week of May 15, more than a month after the data storage chip maker disclosed a security breach.

Western Digital to bring services back online soon after security breach

Western Digital Corp. WDC said Friday a March 26 hack of its systems contained personal customer information, and that those affected have been alerted. In late March, Western Digital said it discovered unauthorized access “to a number of the company's systems,” and on April 2 disclosed the incident,, disconnected its systems from the public internet and investigated with forensic experts.

Western Digital says hack exposed personal customer info, those affected alerted

SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital Corp. (NASDAQ: WDC) today provided an update on a network security incident involving the Company's systems. On March 26, 2023, we identified a network security incident where an unauthorized third party gained access to a number of the Company's systems. On April 2, 2023, we disclosed that upon discovery of this incident, we implemented incident response efforts and initiated an investigation with the assistance of leading security industry ex.

News for Western Digital Stock (WDC)