scalingproduct line

Cloud nearline HDDs (Ultrastar)

Cloud revenue rose 38% in fiscal 2026 and reached 89% of total sales.

WDC market data

The numbers

Cloud revenue$11.49 billionFY2026 (year ended July 3, 2026) · +38% year over year · source ↗
Cloud share of net revenue89%FY2026 (year ended July 3, 2026) · source ↗
Company revenue$3.75 billionQ4 FY2026 (quarter ended July 3, 2026) · +44% year over year · source ↗
Free cash flow$1.28 billionQ4 FY2026 (quarter ended July 3, 2026) · source ↗

What it is

High-capacity enterprise drives for hyperscale and enterprise data centers, sold under the Ultrastar brand. Revenue depends on exabytes shipped and average selling price per exabyte, and both grew in fiscal 2026.

Why it matters to the stock. This is almost all of the company's revenue and profit. Exabyte growth, pricing and the capacity roadmap decide the stock's direction more than any other line.

News

WD releases IDC-sponsored AI data-growth study and previews storage demos

Western Digital issued a release citing an IDC white paper it sponsored, in which 61% of surveyed organizations reported data growth of 25% or more over the past year, attributed to AI.

Product

WD declares $0.15 quarterly dividend, payable September 17, 2026

Western Digital's board declared a quarterly cash dividend of $0.15 per share with its fiscal fourth-quarter results.

Capital

WD raises quarterly dividend 20% to $0.15 per share

With its fiscal third-quarter results, Western Digital raised its quarterly cash dividend by 20% to $0.15 per share from $0.125.

Capital

WD guides fiscal Q3 2026 revenue to about $3.2 billion, up roughly 40%, with non-GAAP EPS of $2.30

The January 29 release guided fiscal third-quarter 2026 revenue to $3.2 billion, plus or minus $100 million, which is about 40% growth from a year earlier.

Guidance