Western Digital Corp. (Nasdaq: WDC) today reported fiscal fourth quarter and fiscal year 2022 financial results. "I am proud of our team for driving strong fiscal year 2022 performance, during which revenue grew 11% and non-GAAP EPS increased 81%, demonstrating progress in unlocking the earnings potential of our business," said David Goeckeler, Western Digital CEO. "In addition to strong financial performance, fiscal year 2022 was a hallmark year for Western Digital from an innovation, product development and execution perspective. The combination of our innovation engine and the multiple channels to deliver our products to the market puts Western Digital in a great position to capitalize on the large and growing opportunities in storage ahead even in the midst of macro dynamics weighing on near-term demand."

The company generated $295 million in cash flow from operations, made a scheduled and discretionary debt repayment of $150 million and ended the quarter with $2.33 billion of total cash and cash equivalents.In the fiscal fourth quarter:
Cloud represented 46% of total revenue. Within Cloud, the continued ramp of our 18-terabyte and 20-terabyte drives drove a 7% year-over-year increase in nearline HDD revenue. In Flash, enterprise SSD revenue more than doubled sequentially and was up 38% year-over-year.

Client represented 36% of total revenue. On both a sequential and year-over-year basis, client HDD led the revenue decline while Flash was roughly flat.

Consumer represented 18% of revenue. On a sequential basis, the revenue decline was primarily due to lower retail HDD shipments. The year-over-year decrease was due to broad-based decline in retail products across HDD and Flash.

In the fiscal year 2022:

• Cloud represented 42% of total revenue. The revenue increase was led by a 38% increase in nearline HDD while Flash products for enterprise SSD applications more than doubled.
• Client represented 38% of total revenue. Revenue declined modestly as growth in Flash was offset by a mid-30% decrease in client HDD.
• Consumer represented 20% of total revenue. The revenue decline was all attributed to retail HDD.