Odaily Planet Daily report: Western Digital announced its first-quarter fiscal year 2027 results. The company reported revenue of $4.381 billion, a 55% year-over-year increase, surpassing analysts’ expectations of $4.14 billion; non-GAAP earnings per share were $4.64, up 161% year-over-year, exceeding the FactSet survey consensus of $4.11.
For the second fiscal quarter, Western Digital expects adjusted earnings per share of $5.60 to $6.00 and revenue of $5.0 billion to $5.2 billion, both above the previous market expectations of $4.84 per share and $4.57 billion in revenue.
Despite exceeding expectations in both earnings and guidance, storage and AI-related stocks as a whole came under pressure, as the market remains concerned about whether large-scale capital expenditures can generate meaningful returns in the short term. After the earnings release, Western Digital’s stock briefly rose before quickly reversing, and as of this writing, it was down 6.3% in after-hours trading.