Western Digital Fiscal Q1 Revenue Jumps 55% to $4.38B on AI Storage Demand

Earnings beat

Western Digital reported fiscal first-quarter 2027 results (quarter ended Oct 2) after the US market close on Oct 22: revenue of $4.38 billion, up 55% from $2.82 billion a year earlier and ahead of the $4.14 billion consensus; GAAP EPS of $4.63 and adjusted EPS of $4.64, beating the $4.11 forecast. The company credited AI-driven storage demand and higher pricing.

Guidance and dividend raised

Second-quarter guidance calls for revenue of $5.0–5.2 billion and adjusted EPS of $5.60–6.00, both above market expectations; the quarterly dividend rises 17% to $0.175 a share. CEO Irving Tan said on the earnings call that data, not computing power, is the more lasting AI opportunity.

Shares fell anyway

Despite the beat, shares fell about 5–6% after hours, having already closed down 6.4%. Analysts pointed to a broad AI-stock selloff on the day and fund rotation following Meta's capex disclosure.