Q2 26 EPS
$2.13
BEAT +10.47%
Est. $1.93
Q2 26 Revenue
$3.02B
BEAT +2.79%
Est. $2.94B
vs S&P Since Q2 26
+55.7%
BEATING MARKET
WDC +59.8% vs S&P +4.1%
Market Reaction
Did WDC Beat Earnings? Q2 2026 Results
Western Digital delivered a convincing fiscal second quarter 2026, with the HDD-pure-play posting non-GAAP diluted EPS of $2.13 against a consensus estimate of $1.93, a beat of 10.47%, while revenue of $3.02 billion edged past the $2.94 billion estim… Read more Western Digital delivered a convincing fiscal second quarter 2026, with the HDD-pure-play posting non-GAAP diluted EPS of $2.13 against a consensus estimate of $1.93, a beat of 10.47%, while revenue of $3.02 billion edged past the $2.94 billion estimate by 2.79%. The reported revenue figure reflects a 29.6% year-over-year decline, a number that demands context: Western Digital completed the separation of its Flash business into Sandisk Corporation in February 2025, meaning comparisons now exclude an entire business segment. Investors watching closely saw the company's first full quarter as an HDD-focused entity produce non-GAAP gross margin of 46.1%, up 770 basis points year over year, driven by strong demand for high-capacity drives in AI-oriented data centers. Management paired the solid results with confident guidance, targeting roughly $3.20 billion in Q3 revenue and non-GAAP EPS of $2.30, citing continued data center adoption of next-generation high-capacity storage as the primary tailwind heading into the second half of fiscal 2026.
Key Takeaways
- • AI-driven data economy demand for high-capacity HDDs
- • Data center demand strength
- • Gross margin expansion driven by product mix and pricing
- • Disciplined execution and supply management
- • Returned over 100% of free cash flow to shareholders
WDC YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
WDC Revenue by Segment
Business unit performance breakdown
“Western Digital's strong performance this quarter reflects our disciplined execution to meet demand in the AI-driven data economy, and the confidence our customers place in our ability to deliver reliable, high-capacity HDDs at scale.”
— Irving Tan, Q2 2026 Earnings Press Release
WDC Earnings Trends
WDC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WDC EPS Trend
Earnings per share: estimate vs actual
WDC Revenue Trend
Quarterly revenue: estimate vs actual
WDC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 | — | $2.72 | — | $3.34B | +2.75% |
| Q2 26 BEAT | $1.93 | $2.13 | +10.47% | $3.02B | +2.79% |
| Q1 26 BEAT | $1.58 | $1.78 | +12.93% | $2.82B | +3.21% |
| Q4 25 BEAT FY | $1.48 | $1.66 | +12.16% | $2.61B | — |
| FY Full Year | $4.84 | $4.93 | +1.94% | $9.52B | +1.32% |
| Q3 25 BEAT | $1.11 | $1.36 | +22.73% | $2.29B | -7.65% |