Western Digital Corp ( WDC ) shares are down after the company reported its fourth-quarter financial results Wednesday. Here's a look at the key figures from the report. 

The Details: Western Digital ( WDC ) reported quarterly earnings of $1.44 per share, which beat the analyst consensus estimate of $1.18 by 22.03%. The company reported quarterly sales of $3.76 billion, which beat the analyst consensus estimate of $3.747 billion and is a 40.72% increase over sales of $2.672 billion from the same period last year.

Cloud represented 50% of total revenue and the company attributed the sequential growth to higher nearline shipments and pricing in HDD, coupled with increased bit shipments and pricing in enterprise SSDs.

Client represented 32% of total revenue with the sequential increase due to the increase in flash ASPs, offsetting a decline in flash bit shipments, while HDD revenue decreased slightly. Consumer represented 18% of total revenue with the sequential decrease due to lower flash and HDD bit shipments, partially offset by higher ASPs in both flash and HDD.

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“Our fourth quarter and fiscal year 2024 results are reflective of the diverse and innovative portfolio we have developed in alignment with our strategic roadmap,” said David Goeckeler, Western Digital ( WDC ) CEO.

“Together, with the structural changes we have made to strengthen our operations, we are benefitting from the broad recovery we are seeing across our end markets and structurally improving through-cycle profitability for both Flash and HDD,” Goeckeler added.

Outlook: Western Digital ( WDC ) sees first-quarter earnings in a range of $1.55 to $1.85 per share, versus the $1.18 estimate, and revenue in a range of $4 billion to $4.2 billion, versus the $3.747 billion estimate.

WDC Price Action: According to Benzinga Pro, Western Digital ( WDC ) shares are down 4.55% after-hours at $64 after gaining 6.13% during regular trading Wednesday.

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Image: Courtesy of Western Digital Corporation ( WDC )