The earnings call reflected strong financial results and positive momentum in cloud and data center growth, supported by a strategic focus on AI integration and product expansion. However, there are challenges in the consumer segment and uncertainties related to tariffs, which could affect future performance.

Company Guidance -

Q1 2026

During the fourth quarter of fiscal 2025, Western Digital reported strong financial results, with revenue reaching $2.6 billion, a 30% increase year-over-year, and a non-GAAP gross margin of 41.3%. The company achieved non-GAAP earnings per share of $1.66 and generated free cash flow of $675 million. Western Digital also reduced its debt by $2.6 billion, achieving a net leverage target range of 1 to 1.5x, and initiated a quarterly cash dividend of $0.10 per share. The company authorized a $2 billion share repurchase program, purchasing nearly $150 million worth of shares during the quarter. Looking ahead to fiscal Q1 2026, the company expects revenue of approximately $2.7 billion, gross margins between 41% and 42%, and non-GAAP EPS of $1.54, citing strong demand driven by data center needs and AI-related tailwinds.

Strong Financial Performance

Western Digital reported revenue of $2.6 billion, up 30% year-over-year, and non-GAAP earnings per share of $1.66, exceeding guidance. Free cash flow for the quarter was $675 million.

Data Center and Cloud Growth

Cloud represented 90% of total revenue at $2.3 billion, up 36% year-over-year, driven by strong demand for higher capacity nearline product portfolio.

Debt Reduction and Shareholder Returns

Western Digital lowered debt by $2.6 billion and initiated a quarterly cash dividend program, with a $2 billion share repurchase program. Nearly $150 million worth of shares were repurchased in the fiscal fourth quarter.

Product Expansion and AI Integration

Shipments of latest generation ePMR drives doubled quarter-over-quarter, exceeding 1.7 million units. The company is leveraging AI to accelerate product development cycles.

Western Digital (WDC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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WDC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2026 (Q1)	1.56 / -	1.345	―	―	―
Jul 30, 2025	2025 (Q4)	1.48 / 1.66	1.088	52.57% (+0.57)
Apr 30, 2025	2025 (Q3)	1.12 / 1.36	0.476	185.71% (+0.88)
Jan 29, 2025	2025 (Q2)	1.35 / 1.34	-0.521	356.62% (+1.86)
Oct 24, 2024	2025 (Q1)	1.29 / 1.34	-1.33	201.13% (+2.67)
Jul 31, 2024	2024 (Q4)	0.89 / 1.09	-1.496	172.73% (+2.58)
Apr 25, 2024	2024 (Q3)	0.16 / 0.48	-1.035	145.99% (+1.51)
Jan 25, 2024	2024 (Q2)	-0.85 / -0.52	-0.317	-64.35% (-0.20)
Oct 30, 2023	2024 (Q1)	-1.44 / -1.33	0.151	-980.79% (-1.48)
Jul 31, 2023	2023 (Q4)	-1.53 / -1.50	1.345	-211.23% (-2.84)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

WDC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$71.43	$78.69	+10.16%
Apr 30, 2025	$40.54	$43.78	+7.99%
Jan 29, 2025	$47.36	$49.61	+4.75%
Oct 24, 2024	$50.02	$52.38	+4.72%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.