Western Digital Corporation
Western Digital Reports Q4 and FY 2024 Financial Results, Announces Patent Litigation Award
Summary
Western Digital Corporation reported its fiscal fourth quarter and full-year 2024 financial results on July 31, 2024. The company's fourth quarter revenue was $3.76 billion, up 9% sequentially, with cloud revenue up 21% and consumer revenue down 7%. Fiscal year 2024 revenue was $13.00 billion. GAAP EPS for Q4 was $0.88, and Non-GAAP EPS was $1.44. Western Digital expects fiscal first quarter 2025 revenue to be between $4.00 billion to $4.20 billion. A jury awarded $262 million in a patent infringement action on July 26, 2024, against a subsidiary, which the company plans to appeal. Financial results did not include the impact of this litigation as the company is assessing the accounting treatment.
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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.
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