Western Digital reports Q4 loss: GAAP EPS -$2.27, revenue $2.67B; Q1 guidance weak; President Sivaram leaves

WESTERN DIGITAL CORP

2023-FY EPS reported -$5.44 revenue$12,318,000,000

Q4 FY2023 GAAP EPS -$2.27, non-GAAP -$1.98; revenue $2.67B down 41% YoY and 5% QoQ.
FY2023 GAAP EPS -$5.44, non-GAAP -$3.59; revenue $12.3B down 34% YoY.
Cloud revenue $994M down 18% QoQ; Client up 6% and Consumer up 3% sequentially.
Q1 FY2024 guidance: revenue $2.55-2.75B, non-GAAP EPS -$2.10 to -$1.80, with $200-220M underutilization charges.
President, Technology and Strategy Srinivasan Sivaram departing for another opportunity.

item 2.02 item 5.02 item 9.01

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Departed

Srinivasan Sivaram

President, Technology and Strategy

WDC · WESTERN DIGITAL CORP

Filed: July 31, 2023, 7:59 PM ET

On July 31, 2023, the Company announced that Srinivasan Sivaram, the Company’s President, Technology and Strategy, is leaving the Company to pursue another opportunity.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WESTERN DIGITAL CORP updated its fiscal fourth quarter and year ended June 30, 2023 guidance (reaffirmed).

Period: fiscal fourth quarter and year ended June 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On July 31, 2023, Western Digital Corporation (the “Company”) announced financial results for the fiscal fourth quarter and year ended June 30, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Srinivasan Sivaram departed as President, Technology and Strategy at WESTERN DIGITAL CORP.

Action: leaving
Role: President, Technology and Strategy

Exact text from the filing

On July 31, 2023, the Company announced that Srinivasan Sivaram, the Company’s President, Technology and Strategy, is leaving the Company to pursue another opportunity.

View on SEC.gov

13 earnings releases filed in the last 30 days. Browse all earnings releases →

WESTERN DIGITAL CORP filing history →

Source: SEC EDGAR

accession 0000106040-23-000020

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