secwatch.observer — SEC 8-K summary
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Issuer:     WESTERN DIGITAL CORP (WDC)
CIK:        0000106040
Form:       8-K
Filed at:   2023-01-31T23:59:59+00:00
Accession:  0000106040-23-000006
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Western Digital posts Q2 loss, revenue down 36% YoY; secures $875M loan facility
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- Q2 FY2023 revenue $3.11B (-36% YoY); GAAP EPS -$1.40, Non-GAAP EPS -$0.42.
- Cloud revenue $1.22B (-33% QoQ, -36% YoY); hard drive inventory digestion cited.
- Q3 revenue guidance $2.60B-$2.80B; Non-GAAP EPS guidance -$1.70 to -$1.40.
- Q3 guidance includes $250M underutilization charges (flash wafer starts cut 30%).
- Entered $875M 364-day delayed draw term loan facility (JPMorgan agent) to boost liquidity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/106040/000010604023000006/0000106040-23-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/106040/000010604023000006/wdc-20230125.htm
  HTML page:      https://secwatch.observer/filing/0000106040-23-000006

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