Western Digital Corp. reported its fiscal fourth quarter and full year 2025 financial results on July 30, 2025. For Q4 FY25, revenue was $2.605 billion, a 30% increase year-over-year, and non-GAAP diluted earnings per share was $1.66, exceeding analyst estimates.
The Cloud end market was the primary growth engine, with revenue expanding by 65% year-over-year to $8.34 billion for the full fiscal year 2025, representing 88% of total revenue. Non-GAAP gross margin for Q4 FY25 was 41.3%, and for the full fiscal year 2025, it reached 39.4%, a significant improvement of 10.7 percentage points year-over-year.
The company made significant strides in strengthening its balance sheet, reducing principal debt by $2.78 billion in FY25, including the redemption of $1.8 billion in senior unsecured notes. Western Digital also declared a quarterly cash dividend of $0.10 per share, payable on September 18, 2025, and utilized $149 million of its $2.0 billion share repurchase program in Q4 FY25. For Q1 FY26, the company anticipates revenue of $2.7 billion (plus/minus $100 million) and non-GAAP EPS of $1.54 (plus/minus $0.15).
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