Western Digital Earnings: AI Drives Excellent Demand and Pricing Environment for HDDs

Western Digital's first-quarter fiscal 2026 revenue grew 27% year over year to $2.8 billion, 89% of which were cloud-related sales. Non-GAAP gross margin expanded 660 basis points year over year to 43.9% while non-GAAP operating margins expanded 1,200 basis points to 30.4%.