Quarterly Earnings Performance
Note: Western Digital's fiscal year ends in late June. FQ1–FQ4 FY2025 span Jul 2024–Jun 2025. On Feb 21, 2025, WDC completed the separation of its Flash/NAND business into SanDisk Corporation; post-separation quarters (FQ3 FY25 onward) reflect HDD-only results. Pre-separation quarters include combined HDD+Flash revenue.
| Quarter | Period | Report Date | Revenue | YoY Growth | EPS (non-GAAP) | Guidance (next qtr) | Notes |
|---|---|---|---|---|---|---|---|
| FQ1 FY25 | Jul–Sep 2024 | 2024-10-24 | $4.10B | +21% | $1.78 | $4.2–4.4B rev | Combined HDD+Flash |
| FQ2 FY25 | Oct 2024–Jan 2025 | 2025-01-29 | $4.29B | +41% | $1.77 | $3.75–3.95B rev | SanDisk separation pending |
| FQ3 FY25 | Jan–Mar 2025 | 2025-04-30 | $2.00B | +38% | $1.36 | $2.6–2.8B rev | HDD-only post-separation |
| FQ4 FY25 | Apr–Jun 2025 | 2025-07-30 | $2.60B | +30% | $1.66 | $2.65–2.75B rev | Debt reduced $2.6B; $2B buyback |
| FQ1 FY26 | Jul–Oct 2025 | 2025-10-30 | $2.82B | +27% | $1.78 | ~$2.9B rev | Gross margin 43.9%; dividend raised 25% |
| FQ2 FY26 | Oct 2025–Jan 2026 | 2026-01-29 | $3.00B | +25% | $2.13 | ~$3.3B rev | Gross margin 46.1%; 215 EB shipped |
| FY2025 (full) | Jul 2024–Jun 2025 | — | $9.52B | +51% | — | — | Includes pre-separation combined quarters |
| Quarter | Est. Report Date | Est. Revenue | Est. EPS | Source |
|---|---|---|---|---|
| FQ3 FY26 (Jan–Apr 2026) | 2026-04-30 (confirmed) | $3.3B | $2.72 | Reported Apr 30, 2026 |
| FQ4 FY26 (Apr–Jun 2026) | ~2026-08-05 (est.) | $3.55–3.75B (est.) | $3.10–3.40 (est.) | Company guidance; analyst consensus |
Western Digital completed the strategic spin-off of its Flash/NAND business into SanDisk Corporation on February 21, 2025, transforming into a pure-play HDD company; post-separation quarters reflect this narrower but more focused revenue base. Despite the revenue reset from the split, the HDD business delivered accelerating growth throughout fiscal 2025 and into fiscal 2026, driven by surging demand for nearline hard drives in AI-driven data centers. Cloud storage accounted for roughly 89–90% of revenue by FQ2 FY26, with gross margins expanding from ~38% to over 50% across the period. The company has aggressively returned capital to shareholders, executing $752M in share repurchases in FQ3 FY26 alone and raising its quarterly dividend 20% to $0.15 per share.
Generated: 2026-05-12