Western Digital reported fiscal first-quarter results on October 22, 2026: adjusted EPS of $4.64 against a $4.09 estimate, revenue of $4.38 billion, and a 17 percent dividend increase. It guided second-quarter gross margins to 60 to 61 percent versus a 57.2 percent estimate. The discussion has moved to supply: hard drives are short by over 400 exabytes, more than 20 percent of the market. The stock fell 6.4 percent in the regular session and rose about 2 percent after hours.