"Western Digital delivered a revenue beat of $90 million, posting $2.82 billion against expectations of $2.73 billion. The real strength came from non-GAAP earnings per share of $1.78, which exceeded the $1.58 estimate by $0.20. The beat reflects robust demand from cloud and AI-driven data center workloads, which are pushing customers toward high-capacity storage solutions."
"CEO Irving Tan emphasized the tailwind in his remarks: "As AI accelerates data creation, Western Digital's continued innovation and operational discipline position us well to capture new opportunities and drive sustained shareholder value." The company separated its Flash business into Sandisk Corporation earlier this year, allowing management to focus entirely on core data storage operations where this demand is concentrated."
"Net income surged 139.76% year over year to $1.18 billion, a dramatic turnaround from the losses that plagued fiscal 2023 and 2024. Operating cash flow jumped 1,876% to $672 million, though this comparison reflects an unusually weak prior-year quarter. More meaningful is the $599 million in free cash flow, which enabled the company to boost its quarterly dividend by 25% to $0.125 per share, payable December 18."
Western Digital reported Q1 fiscal 2026 revenue of $2.82 billion, beating expectations by $90 million, and non-GAAP EPS of $1.78 versus $1.58 expected. Robust demand from cloud and AI-driven data center workloads pushed customers toward high-capacity storage solutions. Management separated the Flash business into Sandisk Corporation to focus on core data storage operations. Net income rose 139.76% year over year to $1.18 billion. Operating cash flow increased 1,876% to $672 million and free cash flow reached $599 million. The company raised its quarterly dividend 25% to $0.125 per share, payable December 18. Operating income improved to $792 million.
Read at 24/7 Wall St.
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