UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 27, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-8703 WESTERN DIGITAL CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 33-0956711 (State or other ju ...

Core Insights - Western Digital Corporation (WDC) reported second-quarter fiscal 2025 non-GAAP earnings of $1.77 per share, exceeding the Zacks Consensus Estimate of $1.75, and a significant improvement from a loss of 75 cents per share in the prior-year quarter [1][4] - Revenues reached $4.29 billion, surpassing the Zacks Consensus Estimate by 0.8%, and reflecting a 41% year-over-year increase driven by strong demand in Cloud end markets [2][5] - The company is strategically positioned to benefit from the upcoming split with SanDisk, aiming to capture AI-driven storage demand and optimize its Flash business for long-term success [3] Financial Performance - Revenues from the Cloud end market, which constitutes 55% of total revenues, surged 119% year over year to $2,346 million, with a sequential growth of 6% [5] - Client end market revenues (27% of total) increased 4% year over year to $1,168 million, but saw a 3% sequential decline due to pricing pressure in Flash [6] - Consumer end market revenues (18% of total) decreased 8% year over year to $771 million, although they increased 14% sequentially [7] Product Group Performance - Flash revenues, accounting for 43.8% of total revenues, rose 13% year over year to $1.9 billion, remaining flat sequentially [8] - HDD revenues, making up 56.2% of total revenues, surged 76% year over year to $2.4 billion, with a 9% quarter-over-quarter increase [9] Margins and Expenses - Non-GAAP gross margin improved to 35.9% from 15.5% in the prior-year quarter, with HDD gross margin at 38.6% and Flash gross margin at 32.5% [12] - Non-GAAP operating expenses rose 20% year over year to $674 million, while non-GAAP operating income reached $864 million compared to a loss of $91 million in the prior-year quarter [12] Balance Sheet and Cash Flow - As of December 27, 2024, cash and cash equivalents were $2.291 billion, up from $1.71 billion as of September 27, 2024 [13] - The company generated $403 million in cash from operations, a significant increase from $92 million utilized in the prior-year quarter, with free cash flow amounting to $335 million [13] Fiscal Q3 Outlook - For the upcoming quarter, WDC expects non-GAAP revenues between $3.75 billion and $3.95 billion, with earnings projected between 90 cents and $1.20 per share [14]

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Fiscal Second Quarter 2025 Financial Results Western Digital January 29, 2025 © 2025 Western Digital Corporation or its affiliates All rights reserved 2 Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of federal securities laws, including statements regarding expectations for: the company's business outlook and financial performance for the fiscal third quarter of 2025 and beyond; product qualifications, momentum and adoption; the strength and ...

Core Insights - Western Digital (WDC) reported revenue of $4.29 billion for the quarter ended December 2024, marking a year-over-year increase of 41.3% and exceeding the Zacks Consensus Estimate by 0.81% [1] - The company achieved an EPS of $1.77, a significant improvement from -$0.69 a year ago, with an EPS surprise of 1.14% over the consensus estimate of $1.75 [1] Financial Performance Metrics - Total HDD unit shipments were 13.5 million, below the two-analyst average estimate of 14.21 million [4] - The average selling price (ASP) for HDD was $172, surpassing the $166.25 average estimate [4] - Net revenue from Flash products was $1.88 billion, matching the average estimate [4] - Net revenue from HDD reached $2.41 billion, exceeding the $2.36 billion average estimate, representing a year-over-year increase of 76.2% [4] - Gross profit from HDD was $929 million, above the average estimate of $898.26 million [4] - Gross profit from Flash was $609 million, falling short of the average estimate of $671.47 million [4] Stock Performance - Shares of Western Digital have returned +5.4% over the past month, outperforming the Zacks S&P 500 composite's +1.7% change [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance in the near term [3]

Western Digital (WDC) came out with quarterly earnings of $1.77 per share, beating the Zacks Consensus Estimate of $1.75 per share. This compares to loss of $0.69 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.14%. A quarter ago, it was expected that this maker of hard drives for businesses and personal computers would post earnings of $1.74 per share when it actually produced earnings of $1.78, delivering a surprise of 2.3 ...

Exhibit 99.1 Western Digital Reports Fiscal Second Quarter 2025 Financial Results News Summary ($ in millions, except per share amounts) | | GAAP | | | | Non-GAAP | | | --- | --- | --- | --- | --- | --- | --- | | | Q2 2025 | Q1 2025 | Q/Q | Q2 2025 | Q1 2025 | Q/Q | | Revenue | $4,285 | $4,095 | up 5% | $4,285 | $4,095 | up 5% | | Gross Margin | 35.4% | 37.9% | down 2.5 ppt | 35.9% | 38.5% | down 2.6 ppt | | Operating Expenses | $664 | $809 | down 18% | $674 | $691 | down 2% | | Operating Income | $852 | $7 ...

Western Digital Coproration (WDC) is set to report fiscal second-quarter 2025 results on Jan. 29.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for earnings is pegged at $1.75 per share, which moved down 8.4% in the past 60 days. WDC reported a loss per share of 69 cents in the prior-year quarter.The consensus estimate for revenues is currently pegged at $4.26 billion, indicating an increase of 40.4% from the prior-year quarter’s figure.  The company's ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Western Digital (WDC) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on January ...

Western Digital Corporation (WDC) recently announced its preliminary financial results for the second quarter of fiscal 2025, which ended on Dec. 27, 2024. The company is scheduled to report fiscal second-quarter results on Jan. 29, 2025, after market close.WDC’s Q2 Preliminary ResultsWestern Digital's revenues for the fiscal second quarter are expected to be at the mid-point of its previously issued guidance of $4.20 billion to $4.40 billion, which was given in the first quarter of fiscal 2025.However, the ...