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Western Digital

Western Digital (WDC) Q4 2026 Earnings

Reported Aug 5, 2026 at 4:04 PM ET · SEC Source

Q4 26 EPS Adjusted

$3.56

BEAT +8.11%

Est. $3.29

Q4 26 Revenue

$3.75B

BEAT +1.30%

Est. $3.70B

vs S&P Since Q4 26

-20.3%

TRAILING MARKET

WDC -19.8% vs S&P +0.5%

Full Year 2026 Results

FY 26 EPS

$10.22

BEAT +2.85%

Est. $9.94

FY 26 Revenue

$12.92B

BEAT +0.35%

Est. $12.87B

Market Reaction

Did WDC Beat Earnings? Q4 2026 Results

Western Digital delivered a strong fiscal fourth quarter, posting adjusted EPS of $3.56 against a Wall Street consensus of $3.29, a beat of 8.11% that extended the company's streak of topping EPS estimates to five consecutive quarters. Revenue climbe… Read more Western Digital delivered a strong fiscal fourth quarter, posting adjusted EPS of $3.56 against a Wall Street consensus of $3.29, a beat of 8.11% that extended the company's streak of topping EPS estimates to five consecutive quarters. Revenue climbed 43.8% year-over-year to $3.75 billion, edging past the $3.70 billion consensus by 1.30%, as AI-driven demand for high-capacity hard disk drives continued to fuel broad-based growth across cloud and data-center customers. A key driver of the quarter's profitability was the now-completed separation of the Flash business into Sandisk Corporation, which sharpened Western Digital's focus on its HDD operations and helped non-GAAP gross margin expand to 54.4%, up 1,310 basis points from a year earlier. Operating cash flow reached $1.39 billion, and the company repurchased $672 million of stock in the quarter alone. Looking ahead, management guided fiscal Q1 2027 revenue to approximately $4.10 billion and non-GAAP EPS of $4.00, signaling continued confidence in margin expansion and durable demand tied to accelerating global data creation.

Key Takeaways

  • • Revenue increased 44% year-over-year in Q4 FY26 driven by growing storage demand
  • • Non-GAAP gross margin expanded 1,310 basis points year-over-year to 54.4%
  • • Non-GAAP operating margin expanded 1,610 basis points year-over-year to 44.2%
  • • Scaling innovation and operational excellence across global organization
  • • Cloud and data-intensive workload expansion

WDC Forward Guidance & Outlook

For fiscal Q1 2027, WD expects revenue of approximately $4.1 billion (±$100 million), representing 42%-49% year-over-year growth. Non-GAAP gross margin is guided at 55%-56%, non-GAAP operating expenses of $390-$400 million, non-GAAP EPS of $4.00 (±$0.15) on approximately 388 million diluted shares, with a non-GAAP tax rate of approximately 17% and interest/other expense of approximately $15 million. Management expressed confidence in the long-term growth trajectory, further margin expansion, and strong free cash flow generation driven by expanding cloud and data-intensive workloads.

24/7 Wall St

WDC YoY Financials

Q4 2026 vs Q4 2025, source: SEC Filings

24/7 Wall St

WDC Revenue by Segment

Business unit performance breakdown

“WD concluded fiscal year 2026 with strong performance. In our fiscal fourth quarter, revenue increased 44% year over year, gross and operating margins expanded, and earnings per share more than doubled. These results reflect our ability to scale innovation and operational excellence across our global organization, supporting our customers' growing storage demand.”

— Irving Tan, Q4 2026 Earnings Press Release

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