Western Digital Corp. (WDC) Earnings: Highlights of 4Q results

Western Digital Corp. (NASDAQ: WDC) reported revenue of $2.7 billion for the fourth quarter of 2023, which was down 41% year-over-year.

Net loss was $715 million or $2.27 per share in the June quarter, compared to net income of $301 million or $0.95 per share in the prior-year quarter. Adjusted loss per share came in at $1.98 in Q4, compared to $1.78 in the corresponding period of 2022.

“Throughout the fiscal fourth quarter and fiscal year, Western Digital continued to optimize our operations and successfully execute our innovative product roadmap, priming ourselves for greater profitability when demand rebounds across hard drives and flash. As a result of these efforts, we delivered revenue above our expectation and delivered a range of industry-leading products to our customers,” said David Goeckeler, Western Digital’s CEO.

Prior Performance