Western Digital Announces Q3 2024 Financial Results

Details

The company reported a sequential revenue increase of 14% to $3.46 billion, with Cloud revenue rising 45% sequentially and Client revenue increasing 5% sequentially. However, Consumer revenue decreased by 13% sequentially. GAAP earnings per share (EPS) was $0.34, and Non-GAAP EPS was $0.63, which includes underutilization-related charges in HDD. The company expects fiscal fourth quarter 2024 revenue to be in the range of $3.60 billion to $3.80 billion and Non-GAAP EPS in the range of $0.90 to $1.20.

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About Western Digital Corporation

Western Digital Corporation is a global leader in data storage solutions, specializing in designing, manufacturing, and marketing high-performance hard drives and solid-state drives for a variety of applications. As one of the key players in the data storage industry, Western Digital's primary function is to provide reliable and innovative storage products that serve consumer, business, and enterprise needs. Its product portfolio encompasses solutions for desktop and notebook computers, data centers, and the embedded and removable storage market through brands like WD and SanDisk. Western Digital plays a crucial role in sectors such as cloud computing, data infrastructure, and mobile device manufacturing, catering to the ever-growing demand for efficient data storage and management technologies. The company's commitment to research and development has positioned it at the forefront of technological advancements, helping to drive the innovations required to manage the digital information explosion effectively. Founded in 1970 and headquartered in San Jose, California, Western Digital continues to influence industry standards, making significant contributions to the infrastructure that powers today's digital world.