WDCEarnings

Western Digital Reports Q1 FY2027 Results: Revenue $4.38B, Non-GAAP EPS $4.64

Western Digital Corporation reported fiscal first quarter 2027 revenue of $4.38 billion, up 55% year-over-year. Non-GAAP diluted EPS was $4.64, a 161% increase year-over-year, while non-GAAP operating margin expanded to 49.1% from 30.4% in the prior year period. The company provided Q2FY27 guidance for revenue of $5.1 billion at midpoint, representing expected 66% to 72% year-over-year growth.

Published October 22, 2026 at 5:11 PM EDTWestern Digital CorporationSEC filing

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Forward guidance

RevenueQ2 FY2027

$5.0 billion - $5.2 billion+66% to +72% YoY at midpoint

Non-GAAP gross marginQ2 FY2027

60% - 61%+14.4 pp implied Y/Y vs Q2 FY2026

Non-GAAP operating expensesQ2 FY2027

$400 million - $410 million-60.3% implied Y/Y vs Q2 FY2026

Non-GAAP diluted EPSQ2 FY2027

$5.60 - $6.00+172.3% implied Y/Y vs Q2 FY2026

Interest and other expense, netQ2 FY2027

~$15 million

Non-GAAP tax rateQ2 FY2027

~17%

Diluted weighted average sharesQ2 FY2027

~380 million

Key takeaways

Revenue: Q1 FY2027 revenue of $4.38 billion increased 55% year-over-year and 17% sequentially from $3.75 billion in Q4 FY2026.
Profitability: Non-GAAP gross margin expanded to 58.1% from 43.9% year-over-year; non-GAAP operating margin was 49.1%, up 1,870 basis points.
Earnings: Non-GAAP diluted EPS of $4.64 increased 161% year-over-year from $1.78; GAAP diluted EPS was $4.63.
Cash generation: Operating cash flow of $1.60 billion and free cash flow of $1.38 billion, with free cash flow up 130% year-over-year.
Q2FY27 guidance: Revenue expected at $5.1 billion midpoint (+66% to +72% YoY), non-GAAP gross margin 60%-61%, non-GAAP EPS $5.80 midpoint.
Dividend: Quarterly cash dividend raised 17% to $0.175 per share, payable December 17, 2026 to stockholders of record December 4, 2026.

Key metrics

RevenueQ1 FY2027 (ended October 2, 2026)

$4.38 billion+55%

RevenueQ1 FY2027

$4.38 billion+17% Q/Q

Non-GAAP gross marginQ1 FY2027

58.1%+1,420 bps

Non-GAAP operating marginQ1 FY2027

49.1%+1,870 bps

GAAP operating marginQ1 FY2027

46.7%+1,860 bps

Non-GAAP diluted EPSQ1 FY2027

$4.64+161%

GAAP diluted EPSQ1 FY2027

$4.63+51%

Non-GAAP operating incomeQ1 FY2027

$2.15 billion+152%

Primary source

TickerStar generated this brief from an official company, investor-relations, earnings-call, or regulatory source. Review the primary material before making an investment decision.

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