The Cloud segment includes products made for public and private cloud computing environments, while Client refers to those sold directly to OEMs or via distribution partners.
It now groups product revenues into three categories – Cloud, Client and Consumer. The quarterly report was the first Western Digital has made under its new reporting structure. Western Digital is one of the world’s biggest makers of storage drives, supplying hard disk drives and flash memory chips for data center hardware, personal computers, smart cars and a wide range of other systems. “We believe that the migration to the cloud and demand for storage solutions throughout the client and consumer markets will continue to drive a huge opportunity for Western Digital and our customers.” “While these disruptions are transitory, the long-term opportunities for Western Digital remain unchanged as the world’s digital transformation continues to accelerate,” Goeckeler continued. Western Digital Chief Executive David Goeckeler (pictured) said the “solid results” in the quarter were driven by strong demand across diverse end markets combined with its “strong innovation, broad routes to market and sharpened execution.” The company was able to do so even in the face of “significant COVID impacts and supply chain disruptions,” he added. That beat forecasts, with analysts modeling an adjusted profit of just $2.24 per share on revenue of $5.1 billion.
The company reported a profit before certain costs such as stock compensation of $2.49 per share on revenue of $5.1 billion, up 29% from the same period a year ago. saw its shares lose more than 10% of their value in extended trading today after issuing softer earnings guidance.
Despite posting strong fiscal first-quarter results, data storage giant Western Digital Corp.
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