The preliminary condensed consolidated financial statements of Western Digital Corporation (WDC) for the first and second quarters of 2025 reveal a clear shift in the company's financial position and performance compared to the same periods in the previous fiscal year.
In terms of assets, WDC's total current assets increased from $8.060 billion in Q4 2024 to $9.372 billion in Q1 2025 and then to $9.541 billion in Q2 2025. This represents a significant growth of $1.312 billion from Q4 2024 to Q1 2025 and a further increase of $169 million from Q1 2025 to Q2 2025.
The company's total liabilities also saw fluctuations. Total current liabilities decreased from $6.087 billion in Q4 2024 to $4.706 billion in Q1 2025, marking a substantial decrease of $1.381 billion. However, in Q2 2025, there was a slight increase to $5.110 billion, indicating a rise of $404 million from the previous quarter.
When observing the revenue, Q1 and Q2 of 2025 have shown a steady increase from the previous quarter. Revenue for Q4 2024 was $2.004 billion, and it increased to $2.212 billion in Q1 2025 and then to $2.409 billion in Q2 2025. This represents a sequential increase in revenue over the quarters.
In terms of profitability, the company's net income from continuing operations also saw a significant turnaround. From a loss of $246 million in Q1 2025, it bounced back to a profit of $155 million in Q2 2025, marking an improvement of $401 million.
Moreover, the non-GAAP measures also reflect a positive trend. Non-GAAP gross profit increased from $706 million in Q1 2025 to $825 million in Q2 2025, representing a growth of $119 million. Similarly, non-GAAP operating income increased from $296 million in Q1 2025 to $405 million in Q2 2025, indicating an increase of $109 million.
Today the company's shares have moved 0.5% to a price of $31.33. For more information, read the company's full 8-K submission here.
