secwatch.observer — SEC 8-K summary
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Issuer:     WESTERN DIGITAL CORP (WDC)
CIK:        0000106040
Form:       8-K
Filed at:   2023-10-30T23:59:59+00:00
Accession:  0000106040-23-000032
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Western Digital Q1 FY2024 revenue $2.75B, GAAP EPS $(2.17), guides Q2 rev $2.85-3.05B
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- Q1 revenue $2.75B, up 3% QoQ but down 26% YoY; cloud revenue fell 12% QoQ, client up 11%, consumer up 14%.
- GAAP net loss $685M ($2.17 loss per share); Non-GAAP net loss $554M ($1.76 loss per share).
- Includes $225M in underutilization charges in Flash and HDD; operating cash outflow $626M.
- Q2 FY2024 guidance: revenue $2.85-3.05B; Non-GAAP EPS loss $(1.35) to $(1.05) including $110-130M underutilization charges.
- Cash and equivalents $2.03B at quarter end.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/106040/000010604023000032/0000106040-23-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/106040/000010604023000032/wdc-20231030.htm
  HTML page:      https://secwatch.observer/filing/0000106040-23-000032

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer