Friday, October 26, 2018

WD Announces Financial Results for First Quarter Fiscal 2019

Western Digital Corp. today reported revenue of $5.0 billion for its first fiscal quarter ended Sept. 28, 2018. Operating income was $686 million with net income of $511 million, or $1.71 per share. Excluding certain non-GAAP adjustments, the company achieved non-GAAP operating income of $1.1 billion and non-GAAP net income of $906 million, or $3.04 per share. In the year-ago quarter, the company reported revenue of $5.2 billion, operating income of $905 million and net income of $681 million, or $2.23 per share. Non-GAAP operating income in the year-ago quarter was $1.4 billion and non-GAAP net income was $1.1 billion, or $3.56 per share.

The company generated $705 million in cash from operations during the first fiscal quarter of 2019, ending with $4.8 billion of total cash, cash equivalents and available-for-sale securities. The company returned $711 million to shareholders through share repurchases and dividends. On Aug. 1, 2018, the company declared a cash dividend of $0.50 per share of its common stock, which was paid to shareholders on Oct. 15, 2018.