Filing Flows › Western Digital (WDC) › Q2 FY26
Western Digital (WDC) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jan 30, 2026
Western Digital (WDC) reported revenue of $3.0B for the second quarter fiscal 2026 (Q2 FY26), +25% from a year earlier and +7% from the quarter before. Operating margin was 30.1%, net earnings $1.8B (61.1% of revenue).
Western Digital, Q2 FY26: revenue $3.0B (+25% year over year), operating margin 30.1%, net earnings $1.8B, operating cash flow $745M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | +7% | +25% |
| Gross profit | $1.4B | +12% | +52% |
| Operating profit | $908M | +15% | +62% |
| Net earnings | $1.8B | +56% | +210% |
| Operating cash flow | $745M | +11% | +85% |
| Free cash flow | $653M | +9% | +128% |
What changed
Revenue was $3.0B in Q2 FY26, up 25% year over year and up 7% from the previous quarter. Cloud was the largest line at 89% of revenue. Cloud added $0.58B year over year (up 28%), 95% of the total change. Consumer declined 3%.
Gross margin was 45.7%, up 8.1 points from a year earlier. Operating profit was $0.91B, a 30.1% margin (up 6.8 points year over year). Of the extra revenue versus a year earlier, 57% reached operating profit, above the 23% margin then. Operating expenses grew 36% against revenue growth of 25%. Net earnings were $1.8B, up 210% year over year. The effective tax rate was 6.1%. Non-operating items added $1.1B, 54% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.74B (up 85% year over year), 40% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $1.2B. Capital expenditures of $0.09B left free cash flow of $0.65B.
Questions
What was Western Digital's revenue in the second quarter fiscal 2026?
Western Digital (WDC) reported revenue of $3.0B for the second quarter fiscal 2026 (Q2 FY26), +25% from a year earlier and +7% from the quarter before.
Was Western Digital profitable in the second quarter fiscal 2026?
Operating profit was $908M (30.1% of revenue) and net earnings $1.8B.
Source: Western Digital 10-Q on SEC EDGAR.