Western Digital Posts 55% Revenue Growth, Raises Q2 Outlook

Western Digital reported fiscal first-quarter revenue of $4.381 billion, up 55% from a year earlier, and forecast further growth in the current quarter as demand and pricing for hard drives remained strong. The results covered the three months ended October 2, 2026, and the company released them October 22. For its fiscal second quarter, Western Digital expects revenue of $5 billion to $5.2 billion, equivalent to year-over-year growth of 66% to 72%. It forecast non-GAAP diluted earnings per share of $5.60 to $6.00. The midpoint of the revenue range is $5.1 billion, and the earnings midpoint is $5.80. First-quarter non-GAAP diluted earnings per share were $4.64, compared with $3.07 a year earlier. Net income was $1.779 billion, up from $1.182 billion, while non-GAAP gross margin rose to 58.1% from 43.9%. Western Digital attributed the performance to customer demand and improved pricing. The company said its blended average selling price per terabyte increased 28% year over year. Chief Executive Irving Tan said Western Digital had visibility into demand through 2030 or 2031 across its seven largest customers. That outlook reflects management’s assessment of demand, while the...