Western Digital Corporation Announces Second Fiscal Quarter Revenue Expectations at Mid-Point of Guidance Range

On January 16, 2025, Western Digital Corporation (the “Company”) disclosed in its recent 8-K filing that its revenue for the second fiscal quarter ended December 27, 2024, is projected to align with the mid-point of the earlier provided guidance range of $4.20 billion to $4.40 billion. However, the Company anticipates its non-GAAP diluted earnings per share to be at the lower end of the previously communicated range of $1.75 to $2.05 per share. This adjustment is primarily attributed to a more challenging pricing environment within the Company’s flash business sector.

Despite this announcement, it is noted that the information shared in this update shall not be considered as “filed” for purposes of Section 18 of the Securities Exchange Act of 1934. The Company emphasized this non-filing disclaimer as the details provided may not be integrated by reference into any registration statement or other documents filed under the Securities Act of 1933 or the Exchange Act unless specifically indicated in such filings.

Furthermore, the Form 8-K included forward-looking statements pertaining to the Company’s preliminary financial outcomes for the second fiscal quarter concluded on December 27, 2024. These statements were highlighted to iterate that actual results might differ due to various factors such as finalizing financial closing procedures, independent review completion, and other subsequent developments between the filing date and the finalization of the quarter’s financial outcomes.

Additionally, on January 10, 2025, Wissam Jabre, the Executive Vice President and Chief Financial Officer of Western Digital Corporation, has conveyed his intention not to continue in the role of Chief Financial Officer of the Company’s hard disk drive business post the envisaged separation of its flash business through a spin-off transaction, anticipated to conclude by February 28, 2025. Following this decision, Mr. Jabre will resign from his position to pursue other opportunities, triggering the initiation of a comprehensive search for a successor to take on the role of Chief Financial Officer of the Company’s hard disk drive business post the separation.

For further information and explicit details, reference is encouraged to the Company’s filings with the Securities and Exchange Commission (SEC), specifically the Annual Report on Form 10-K submitted on August 20, 2024. The Company strongly advises against excessive reliance on forward-looking statements and commits to updating these declarations only as required by law.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Western Digital’s 8K filing here.

About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.