News Summary
- First quarter revenue was $4.10 billion, up 9% sequentially
(QoQ). Cloud revenue increased 17% (QoQ), Client and Consumer
revenue remained flat (QoQ).
- First quarter GAAP earnings per share (EPS) was $1.35 and
Non-GAAP EPS was $1.78.
- Expect fiscal second quarter 2025 revenue to be in the range of
$4.20 billion to $4.40 billion.
- Expect Non-GAAP EPS in the range of $1.75 to $2.05.
Western Digital Corp. (Nasdaq: WDC) today reported fiscal first
quarter financial results.
“Western Digital’s performance in the fiscal first quarter
demonstrates our commitment to operational excellence and
disciplined capital investment as our focus on lasting quality and
reliability, driven by industry leading innovation and a
diversified portfolio, has allowed us to target the most attractive
end markets to improve profitability,” said David Goeckeler,
Western Digital CEO. “The strength of our diversified product
portfolio is demonstrated by the rapid emergence of enterprise SSD
as a core pillar of growth within our Flash business. The strength
of our HDD product portfolio lies in our UltraSMR technology,
delivering the industry’s highest capacity hard drives with
unmatched reliability, quality, and performance, offering a
compelling TCO to our customers. With the continued proliferation
of the AI Data Cycle, our Flash and HDD product portfolios are
well-positioned to capitalize on significant opportunities as
adoption continues to grow.”
Q1 2025 Financial Highlights
($ in millions, except per share
amounts)
GAAP
Non-GAAP
Q1 2025
Q4 2024
Q/Q
Q1 2025
Q4 2024
Q/Q
Revenue
$4,095
$3,764
up 9%
$4,095
$3,764
up 9%
Gross Margin
37.9%
35.9%
up 2.0 ppt
38.5%
36.3%
up 2.2 ppt
Operating Expenses
$809
$1,137
down 29%
$691
$700
down 1%
Operating Income
$742
$216
up 244%
$884
$666
up 33%
Diluted Net Income Attributable to Common
Shareholders
$481
$28
up 1618%
$634
$504
up 26%
Net Income Per Share
$1.35
$0.08
up 1588%
$1.78
$1.44
up 24%
GAAP
Non-GAAP
Q1 2025
Q1 2024
Y/Y
Q1 2025
Q1 2024
Y/Y
Revenue
$4,095
$2,750
up 49%
$4,095
$2,750
up 49%
Gross Margin
37.9%
3.6%
up 34.3 ppt
38.5%
4.1%
up 34.4 ppt
Operating Expenses
$809
$695
up 16%
$691
$555
up 25%
Operating Income (Loss)
$742
$(596)
*
$884
$(443)
*
Diluted Net Income (Loss) Attributable to
Common Shareholders
$481
$(700)
*
$634
$(569)
*
Net Income (Loss) Per Share
$1.35
$(2.17)
*
$1.78
$(1.76)
*
* not a meaningful figure
The company had an operating cash inflow of $34 million and
ended the quarter with $1.71 billion of total cash and cash
equivalents.
Additional details can be found within the company’s earnings
presentation, which is accessible online at investor.wdc.com.
End Market Summary
Revenue ($M)
Q1 2025
Q4 2024
Q/Q
Q1 2024
Y/Y
Cloud
$2,208
$1,882
up 17%
$872
up 153%
Client
1,209
1,204
—%
1,147
up 5%
Consumer
678
678
—%
731
down 7%
Total Revenue
$4,095
$3,764
up 9%
$2,750
up 49%
In the fiscal first quarter:
- Cloud represented 54% of total revenue. On a sequential and
year-over-year basis, the increases were driven by higher nearline
shipments in HDD and enterprise SSD bit shipments to data center
customers.
- Client represented 29% of total revenue. Compared to last
quarter, Flash bit shipment growth in gaming and mobile was offset
by a decline in PC OEM, while HDD revenue was flat. Year-over-year,
an increase in Flash revenue was primarily due to higher ASPs as
bit shipments declined, and was partially offset by lower HDD
revenue.
- Consumer represented 17% of total revenue. Sequentially, a
slight growth in HDD offset a decline in Flash driven by softer
consumer demand. Year over year, the decrease was due to lower
Flash and HDD bit shipments partially offset by improved pricing in
both Flash and HDD.
Business Outlook for Fiscal Second Quarter of 2025
Three Months Ending
December 27, 2024
GAAP(1)
Non-GAAP(1)
Revenue ($B)
$4.20 - $4.40
$4.20 - $4.40
Gross margin
36.5% - 38.5%
37.0% - 39.0%
Operating expenses ($M)
$835 - $855
$695 - $715
Interest and other expense, net ($M)
~ $115
~ $110
Tax rate(2)
N/A
15.0% - 17.0%
Diluted earnings per share
N/A
$1.75 - $2.05
Diluted shares outstanding (in
millions)
~ 357
~ 357
_______________
(1) Non-GAAP gross margin guidance excludes stock-based
compensation expense, amortization of acquired intangible assets
and amortization of patent licenses related to a litigation matter,
totaling approximately $20 million to $30 million. The company’s
Non-GAAP operating expenses guidance excludes stock-based
compensation expense and expenses related to business separation
costs, totaling approximately $130 million to $150 million.
Non-GAAP Interest and other income (expense) guidance excludes
approximately $5 million of interest expense related to a
litigation matter. In the aggregate, Non-GAAP diluted earnings per
share guidance excludes these items totaling $155 million to $185
million. The timing and amount of these charges excluded from
Non-GAAP gross margin, Non-GAAP operating expenses, and Non-GAAP
diluted earnings per share cannot be further allocated or
quantified with certainty. Additionally, the timing and amount of
additional charges the company excludes from its Non-GAAP tax rate
and Non-GAAP diluted earnings per share are dependent on the timing
and determination of certain actions and cannot be reasonably
predicted. Accordingly, full reconciliations of Non-GAAP gross
margin, Non-GAAP operating expenses, Non-GAAP tax rate and Non-GAAP
diluted earnings per share to the most directly comparable GAAP
financial measures (gross margin, operating expenses, tax rate and
diluted earnings per share, respectively) are not available without
unreasonable effort. (2) Non-GAAP tax rate is determined
based on a percentage of Non-GAAP pre-tax income or loss. Our
estimated Non-GAAP tax rate may differ from our GAAP tax rate (i)
due to differences in the tax treatment of items excluded from our
Non-GAAP net income or loss; (ii) the fact that our GAAP income tax
expense or benefit recorded in any interim period is based on an
estimated forecasted GAAP tax rate for the full year, excluding
loss jurisdictions; and (iii) because our GAAP taxes recorded in
any interim period are dependent on the timing and determination of
certain GAAP operating expenses.
Accounting Assessment for Recent Development in Litigation
Matter
On October 18, 2024, a jury returned a verdict in a patent
infringement case against the company in the amount of $316
million. The company believes it has meritorious arguments to the
verdict and believes it will ultimately prevail in this legal
proceeding. The company is currently evaluating the appropriate
accounting treatment for this matter, and the financial information
reported in this press release does not include any impact related
to these recent developments, pending completion of that
assessment. The company expects to complete its accounting
assessment in connection with the preparation of its Quarterly
Report on Form 10-Q, which it expects to file on or before November
6, 2024. As a result, the financial information included in that
report may differ from the preliminary fiscal first quarter US GAAP
financial results reported in this press release. The company does
not expect a change to its reported Non-GAAP financial results in
connection with its assessment of this matter.
Investor Communications
The investment community conference call to discuss these
results and the company’s business outlook for the fiscal second
quarter of 2025 will be broadcast live online today at 1:30 p.m.
Pacific/4:30 p.m. Eastern. The live and archived conference
call/webcast and the earnings presentation can be accessed online
at investor.wdc.com.
About Western Digital
Western Digital is on a mission to unlock the potential of data
by harnessing the possibility to use it. With Flash and HDD
franchises, underpinned by advancements in storage technologies, we
create breakthrough innovations and powerful data storage solutions
that enable the world to actualize its aspirations. Core to our
values, we recognize the urgency to combat climate change and have
committed to ambitious carbon reduction goals approved by the
Science Based Targets initiative. Learn more about Western Digital
and the Western Digital®, SanDisk® and WD® brands at
www.westerndigital.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of federal securities laws, including statements
regarding expectations for: the company’s business outlook and
operational and financial performance for the fiscal second quarter
of 2025 and beyond; the performance and characteristics of the
company’s products and product portfolio; the company’s capital
investment strategy; market conditions and growth opportunities;
the proliferation of the AI Data Cycle and its impact on the
company’s industry, products and performance; the merits of the
company’s position in certain litigation matters; the timing and
impact on financial results of the company’s completion of its
accounting assessment related to recent developments in a
litigation matter; and the timing for filing the company’s
Quarterly Report on Form 10-Q. These forward-looking statements are
based on management’s current expectations and are subject to risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied in the forward-looking
statements. The preliminary financial results for the company’s
fiscal first quarter ended September 27, 2024 included in this
press release represent the most current information available to
management. Actual results when disclosed in the company’s Form
10-Q may differ from these preliminary results as a result of the
completion of the company’s financial closing procedures; final
adjustments; completion of the review by the company’s independent
registered accounting firm; and other developments that may arise
between now and the filing of the company’s Form 10-Q. Other key
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied in the forward-looking
statements include: volatility in global economic conditions and
demand for the company’s products; operational, financial and legal
challenges and difficulties inherent in implementing a separation
of the company’s HDD and Flash businesses; the final approval of
the separation by the company’s board of directors; inflation;
increase in interest rates and economic recession; future responses
to and effects of global health crises; the impact of business and
market conditions; the outcome and impact of the company’s
announced separation transaction, including with respect to
customer and supplier relationships, regulatory and contractual
restrictions, stock price volatility and the diversion of
management’s attention from ongoing business operations and
opportunities; the impact of competitive products and pricing; the
company’s development and introduction of products based on new
technologies and expansion into new data storage markets; risks
associated with cost saving initiatives, restructurings,
acquisitions, divestitures, mergers, joint ventures and the
company’s strategic relationships; difficulties or delays in
manufacturing or other supply chain disruptions; hiring and
retention of key employees; the company’s level of debt and other
financial obligations; changes to the company’s relationships with
key customers; compromise, damage or interruption from
cybersecurity incidents or other data system security risks;
actions by competitors; the company’s ability to achieve its GHG
emissions reduction and other ESG goals; the impact of
international conflicts; risks associated with compliance with
changing legal and regulatory requirements and the outcome of legal
proceedings; and other risks and uncertainties listed in the
company’s filings with the Securities and Exchange Commission (the
“SEC”), including the company’s Annual Report on Form 10-K filed
with the SEC on August 20, 2024 to which your attention is
directed. You should not place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and the company undertakes no obligation to update or revise these
forward-looking statements to reflect new information or events,
except as required by law.
Western Digital, the Western Digital logo, SanDisk and WD are
registered trademarks or trademarks of Western Digital Corporation
or its affiliates in the US and/or other countries.
WESTERN DIGITAL
CORPORATION
PRELIMINARY CONDENSED
CONSOLIDATED BALANCE SHEETS
(in millions; unaudited; on a
US GAAP basis)
September 27,
2024
June 28,
2024
ASSETS
Current assets:
Cash and cash equivalents
$
1,705
$
1,879
Accounts receivable, net
2,458
2,166
Inventories
3,384
3,342
Other current assets
798
673
Assets held for sale
597
—
Total current assets
8,942
8,060
Property, plant and equipment, net
2,917
3,167
Notes receivable and investments in Flash
Ventures
1,051
991
Goodwill
9,812
10,032
Other intangible assets, net
77
78
Other non-current assets
1,972
1,860
Total assets
$
24,771
$
24,188
LIABILITIES, CONVERTIBLE
PREFERRED STOCK AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$
1,578
$
1,411
Accounts payable to related parties
352
313
Accrued expenses
1,311
1,480
Income taxes payable
448
525
Accrued compensation
542
608
Current portion of long-term debt
1,750
1,750
Liabilities held for sale
110
—
Total current liabilities
6,091
6,087
Long-term debt
5,650
5,684
Other liabilities
1,158
1,370
Total liabilities
12,899
13,141
Convertible preferred stock, aggregate
liquidation preference of $261 and $257, respectively
229
229
Total shareholders’ equity
11,643
10,818
Total liabilities, convertible preferred
stock and shareholders’ equity
$
24,771
$
24,188
WESTERN DIGITAL
CORPORATION
PRELIMINARY CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share
amounts; unaudited; on a US GAAP basis)
Three Months Ended
September 27,
2024
September 29,
2023
Revenue, net
$
4,095
$
2,750
Cost of revenue
2,544
2,651
Gross profit
1,551
99
Operating expenses:
Research and development
519
431
Selling, general and administrative
242
207
Litigation matter
3
—
Employee termination, asset impairment and
other
2
57
Business separation costs
43
—
Total operating expenses
809
695
Operating income (loss)
742
(596
)
Interest and other income (expense)
(114
)
(86
)
Income (loss) before taxes
628
(682
)
Income tax expense
135
3
Net income (loss)
493
(685
)
Less: dividends allocated to preferred
shareholders
4
15
Less: income attributable to preferred
shareholders
8
—
Net income (loss) attributable to common
shareholders
$
481
$
(700
)
Net income (loss) per common share:
Basic
$
1.40
$
(2.17
)
Diluted
$
1.35
$
(2.17
)
Weighted average shares outstanding:
Basic
344
323
Diluted
357
323
WESTERN DIGITAL
CORPORATION
PRELIMINARY CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions; unaudited; on a
US GAAP basis)
Three Months Ended
September 27,
2024
September 29,
2023
Operating Activities
Net income (loss)
$
493
$
(685
)
Adjustments to reconcile net income (loss)
to net cash provided by (used in) operations:
Depreciation and amortization
135
147
Stock-based compensation
84
77
Deferred income taxes
54
(46
)
Gain on disposal of assets
(1
)
(87
)
Non-cash asset impairment
—
95
Amortization of debt issuance costs and
discounts
5
4
Other non-cash operating activities,
net
17
1
Changes in:
Accounts receivable, net
(292
)
147
Inventories
(76
)
201
Accounts payable
216
25
Accounts payable to related parties
39
(15
)
Accrued expenses
(153
)
63
Income taxes payable
(77
)
(325
)
Accrued compensation
(50
)
1
Other assets and liabilities, net
(360
)
(229
)
Net cash provided by (used in) operating
activities
34
(626
)
Investing Activities
Purchases of property, plant and
equipment, net
(95
)
69
Activity related to Flash Ventures,
net
47
13
Strategic investments and other, net
3
2
Net cash provided by (used in) investing
activities
(45
)
84
Financing Activities
Employee stock plans, net
(64
)
(43
)
Proceeds from convertible preferred stock,
net of issuance costs
—
(3
)
Proceeds from debt, net of repayments
(38
)
600
Net cash provided by (used in) financing
activities
(102
)
554
Effect of exchange rate changes on
cash
10
(3
)
Cash and cash equivalents reclassified to
assets held for sale
(71
)
—
Net increase (decrease) in cash and cash
equivalents
(174
)
9
Cash and cash equivalents, beginning of
period
1,879
2,023
Cash and cash equivalents, end of
period
$
1,705
$
2,032
WESTERN DIGITAL
CORPORATION
SUPPLEMENTAL OPERATING SEGMENT
RESULTS
(in millions; except
percentages; unaudited)
Three Months Ended
September 27,
2024
September 29,
2023
Net revenue:
HDD
$
2,211
$
1,194
Flash
1,884
1,556
Total net revenue
$
4,095
$
2,750
Gross profit:
HDD
$
843
$
273
Flash
732
(161
)
Total gross profit for segments
1,575
112
Unallocated corporate items:
Stock-based compensation expense
(14
)
(13
)
Amortization of acquired intangible
assets
(1
)
—
Amortization of licenses related to a
litigation matter
(9
)
—
Total unallocated corporate items
(24
)
(13
)
Consolidated gross profit
$
1,551
$
99
Gross margin:
HDD
38.1
%
22.9
%
Flash
38.9
%
(10.3
)%
Total gross margin for segments
38.5
%
4.1
%
Consolidated gross margin
37.9
%
3.6
%
The company manages and reports under two
reportable segments: hard disk drives ("HDD") and flash-based
products (“Flash”). In the table above, total gross profit for
segments and total gross margin for segments are Non-GAAP financial
measures, which are also referred to herein as Non-GAAP gross
profit and Non-GAAP gross margin, respectively.
WESTERN DIGITAL
CORPORATION
PRELIMINARY RECONCILIATION OF
GAAP TO NON-GAAP FINANCIAL MEASURES
(in millions;
unaudited)
Three Months Ended
September 27,
2024
June 28,
2024
September 29,
2023
GAAP gross profit
$
1,551
$
1,353
$
99
Stock-based compensation expense
14
12
13
Amortization of acquired intangible
assets
1
1
—
Litigation matter
9
—
—
Non-GAAP gross profit
$
1,575
$
1,366
$
112
GAAP operating expenses
$
809
$
1,137
$
695
Stock-based compensation expense
(70
)
(57
)
(64
)
Business separation costs
(43
)
(38
)
—
Litigation matter
(3
)
(291
)
—
Employee termination, asset impairment and
other
(2
)
(50
)
(57
)
Strategic review
—
—
(17
)
Other
—
(1
)
(2
)
Non-GAAP operating expenses
$
691
$
700
$
555
GAAP operating income (loss)
$
742
$
216
$
(596
)
Gross profit adjustments
24
13
13
Operating expense adjustments
118
437
140
Non-GAAP operating income
(loss)
$
884
$
666
$
(443
)
GAAP interest and other expense,
net
$
(114
)
$
(114
)
$
(86
)
Litigation matter
2
—
—
Non-GAAP interest and other expense,
net
$
(112
)
$
(114
)
$
(86
)
GAAP income tax expense
$
135
$
63
$
3
Income tax adjustments
(11
)
(46
)
22
Non-GAAP income tax expense
$
124
$
17
$
25
WESTERN DIGITAL
CORPORATION
PRELIMINARY RECONCILIATION OF
GAAP TO NON-GAAP FINANCIAL MEASURES
(in millions, except per share
amounts; unaudited)
Three Months Ended
September 27,
2024
June 28,
2024
September 29,
2023
GAAP net income (loss)
$
493
$
39
$
(685
)
Stock-based compensation expense
84
69
77
Business separation costs
43
38
—
Litigation matter
14
291
—
Employee termination, asset impairment and
other
2
50
57
Strategic review
—
—
17
Amortization of acquired intangible
assets
1
1
—
Other
—
1
2
Income tax adjustments
11
46
(22
)
Non-GAAP net income (loss)
648
535
(554
)
Less: amount allocated to preferred
shareholders
14
31
15
Non-GAAP diluted net income (loss)
attributable to common shareholders
$
634
$
504
$
(569
)
Diluted income (loss) per common
share
GAAP
$
1.35
$
0.08
$
(2.17
)
Non-GAAP
$
1.78
$
1.44
$
(1.76
)
Diluted weighted average shares
outstanding:
GAAP
357
349
323
Non-GAAP
357
349
323
Cash flows
Cash flow provided by (used in) operating
activities
$
34
$
366
$
(626
)
Purchases of property, plant and
equipment, net
(95
)
(116
)
69
Activity related to Flash Ventures,
net
47
32
13
Free cash flow
$
(14
)
$
282
$
(544
)
To supplement the condensed consolidated financial statements
presented in accordance with U.S. generally accepted accounting
principles (“GAAP”), the tables above sets forth Non-GAAP gross
profit; Non-GAAP gross margin; Non-GAAP operating expenses;
Non-GAAP operating income and loss; Non-GAAP interest and other
expense, net; Non-GAAP income tax expense; Non-GAAP net income and
loss; Non-GAAP diluted income and loss per common share and free
cash flow (“Non-GAAP measures”). These Non-GAAP measures are not in
accordance with, or an alternative for, measures prepared in
accordance with GAAP and may be different from Non-GAAP measures
used by other companies. The company believes the presentation of
these Non-GAAP measures, when shown in conjunction with the
corresponding GAAP measures, provides useful information to
investors for measuring the company’s earnings performance and
comparing it against prior periods. Specifically, the company
believes these Non-GAAP measures provide useful information to both
management and investors as they exclude certain expenses, gains
and losses that the company believes are not indicative of its core
operating results or because they are consistent with the financial
models and estimates published by many analysts who follow the
company and its peers. As discussed further below, these Non-GAAP
measures exclude, as applicable, stock-based compensation expense;
business separation costs; charges related to a litigation matter;
employee termination, asset impairment, and other; expenses related
to our strategic review; amortization of acquired intangible
assets; other adjustments; and income tax adjustments and the
company believes these measures along with the related
reconciliations to the GAAP measures provide additional detail and
comparability for assessing the company’s results. These Non-GAAP
measures are some of the primary indicators management uses for
assessing the company’s performance and planning and forecasting
future periods. These measures should be considered in addition to
results prepared in accordance with GAAP, but should not be
considered a substitute for, or superior to, GAAP results.
As described above, the company excludes the following items
from its Non-GAAP measures:
Stock-based compensation expense.
Because of the variety of equity awards used by companies, the
varying methodologies for determining stock-based compensation
expense, the subjective assumptions involved in those
determinations, and the volatility in valuations that can be driven
by market conditions outside the company’s control, the company
believes excluding stock-based compensation expense enhances the
ability of management and investors to understand and assess the
underlying performance of its business over time and compare it
against the company’s peers, a majority of whom also exclude
stock-based compensation expense from their Non-GAAP results.
Business separation costs. The
company incurred expenses associated with the separation of its HDD
and Flash business units to create two independent, public
companies. The company believes these charges do not reflect the
company’s operating results and that they are not indicative of the
underlying performance of its business.
Litigation matter. The company has
recognized expenses related to a recent judgment in a patent
litigation matter, which consisted of an award of damages,
prejudgment interest, and estimated plaintiff legal costs. The
company also recognized expenses in its cost of revenue related to
the amortization of patent licenses that the company has
capitalized related to this litigation matter. The company believes
these charges do not reflect the company's operating results and
that they are not indicative of the underlying performance of its
business. For further information regarding the litigation matter,
see Note 17 to the notes to consolidated financial statements
included in the company’s Annual Report on Form 10-K filed with the
SEC on August 20, 2024.
Employee termination, asset impairment,
and other. From time-to-time, in order to realign the
company’s operations with anticipated market demand or to achieve
cost synergies from the integration of acquisitions, the company
may terminate employees and/or restructure its operations. From
time-to-time, the company may also incur charges from the
impairment of intangible assets and other long-lived assets. In
addition, the company may record credits related to gains upon sale
of property due to restructuring or reversals of charges recorded
in prior periods. In addition, the company has taken actions to
reduce the amount of capital invested in facilities, including the
sale-leaseback of facilities. These charges or credits are
inconsistent in amount and frequency, and the company believes they
are not indicative of the underlying performance of its
business.
Strategic review. The company
incurred expenses associated with its review of strategic
alternatives that resulted in the planned separation of its HDD and
Flash business units to create two independent, public companies.
The company believes these charges do not reflect the company’s
operating results and that they are not indicative of the
underlying performance of its business.
Amortization of acquired intangible
assets. The company incurs non-cash expenses from the
amortization of acquired intangible assets over their economic
lives. Such charges are significantly impacted by the timing and
magnitude of the company’s acquisitions and any related impairment
charges.
Other adjustments. From
time-to-time, the company sells or impairs investments or other
assets which are not considered necessary to its business
operations, or incurs other charges or gains that the company
believes are not a part of the ongoing operation of its business.
The resulting expense or benefit is inconsistent in amount and
frequency.
Income tax adjustments. Income tax
adjustments include the difference between income taxes based on a
forecasted annual Non-GAAP tax rate and a forecasted annual GAAP
tax rate as a result of the timing of certain Non-GAAP pre-tax
adjustments. The income tax adjustments also include adjustments to
estimates related to the current status of the rules and
regulations governing the transition to the Tax Cuts and Jobs Act
and the re-measurement of certain unrecognized tax benefits
primarily related to tax positions taken in prior quarters,
including interest. These adjustments are excluded because the
company believes that they are not indicative of the underlying
performance of its ongoing business.
Additionally, free cash flow is defined as cash flows provided
by (used in) operating activities less purchases of property, plant
and equipment, net, and the activity related to Flash Ventures,
net. The company considers free cash flow generated in any period
to be a useful indicator of cash that is available for strategic
opportunities including, among others, investing in the company’s
business, making strategic acquisitions, repaying debt and
strengthening the balance sheet.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241024042423/en/
Western Digital Corp. Investor Contact: T. Peter
Andrew 949.672.9655 peter.andrew@wdc.com investor@wdc.com
Media Contact: Media Relations 408.801.0021
WD.Mediainquiries@wdc.com
Western Digital (NASDAQ:WDC)
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Western Digital (NASDAQ:WDC)
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