Western Digital said HDD revenue increased 76% for the 3 months ended December 27, 2024 from the comparable period in the prior year. The company said exabytes sold increased 93% and average selling prices per gigabyte declined 8%, while Cloud revenue increased 119%.

1. 01

   Western Digital said HDD revenue increased 76% for the 3 months ended December 27, 2024 from the comparable period in the prior year. The company said exabytes sold increased 93% and average selling prices per gigabyte declined 8%, while Cloud revenue increased 119%.

2. 02

   Western Digital said consolidated gross profit increased $1.02 billion for the 3 months ended December 27, 2024 from the comparable period in the prior year, and consolidated gross margin increased 19 percentage points. The company said unabsorbed manufacturing overhead costs of $156 million were incurred in the prior year period but not in the current period.

3. 03

   Western Digital said on September 28, 2024 SanDisk China completed the sale of 80% of its equity interest in SanDisk Semiconductor (Shanghai) Co. Ltd. to JCET Management Co., Ltd., resulting in a pre-tax gain of $113 million. The company said it subsequently entered into a 5-year Supply Agreement with SDSS with a minimum annual commitment of $550 million.

4. 04

   Western Digital said it plans to distribute 80.1% of the outstanding shares of Sandisk Corporation to holders of the Company's common stock as of February 12, 2025, the record date for the distribution. The company said it expects the distribution to occur on or about February 21, 2025, but completion is subject to certain conditions and no assurance can be provided as to the timing or that all conditions will be met.

Key figures

Quarter ended December 27, 2024

Revenue

$4.3B

Operating income

$852M

Net income

$594M

EPS

$1.63

Gross profit

$1.5B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.