IT Home February 4 news, according to TechPowerUp news, Western Digital today announced the second quarter of fiscal 2022 financial results. David Gorkler, CEO of Western Digital, said: "Even in the face of continued supply chain disruptions and COVID-related challenges, the Western Digital team achieved a strong performance of more than a quarter of expectations. ”
The company reportedly generated $666 million in cash flow from operations, repaid a total of $2.21 billion in debt, issued $1 billion in notes, and had $2.53 billion in cash and cash equivalents at the end of the quarter. During the quarter, the Company fully repaid the balance of the B-4 loan of $943 million and the balance of the A-1 loan of $1.27 billion. In addition, the company completed a public offering of a total of $1 billion in senior unsecured notes, bringing total outstanding debt to $7.4 billion at the end of the fiscal second quarter.
IT Home understands that the continued growth of 5G mobile phones has helped offset the decline in revenue from Western Digital's client SSDs and client hard drives. In the mobile space, Shipments of BiCS5 products in 5G smartphones increased by more than 60% sequentially and 50% year-over-year. Western Digital's WD_BLACK SSD lineup, optimized for the best gaming experience, continued to grow, with revenue up approximately 50% sequentially.
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