Summary by Moomoo AI
Western Digital reported Q4 2024 revenue of $3.76 billion, up 9% QoQ and 41% YoY. GAAP EPS was $0.88, while Non-GAAP EPS reached $1.44. Cloud revenue grew 21% QoQ to $1.88 billion, driven by higher nearline shipments and enterprise SSD demand.For fiscal year 2024, revenue totaled $13.00 billion, with GAAP EPS at $(1.72) and Non-GAAP EPS at $(0.20). The company ended the quarter with $1.88 billion in cash and cash equivalents. Western Digital expects Q1 2025 revenue between $4.00-$4.20 billion and Non-GAAP EPS of $1.55-$1.85.CEO David Goeckeler highlighted the company's diverse portfolio and strategic roadmap as key factors in benefiting from the broad market recovery. He also emphasized the transformational impact of the AI Data Cycle, creating new demand drivers for storage solutions.
