Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Western Digital Corp., consolidated income statement

US$ in millions

12 months ended:	Jun 30, 2023	Jul 1, 2022	Jul 2, 2021	Jul 3, 2020	Jun 28, 2019	Jun 29, 2018
Revenue, net	12,318)	18,793)	16,922)	16,736)	16,569)	20,647)
Cost of revenue	(10,431)	(12,919)	(12,401)	(12,955)	(12,817)	(12,942)
Gross profit	1,887)	5,874)	4,521)	3,781)	3,752)	7,705)
Research and development	(2,009)	(2,323)	(2,243)	(2,261)	(2,182)	(2,400)
Selling, general and administrative	(970)	(1,117)	(1,105)	(1,153)	(1,317)	(1,473)
Employee termination, asset impairment, and other charges	(193)	(43)	47)	(32)	(166)	(215)
Operating expenses	(3,172)	(3,483)	(3,301)	(3,446)	(3,665)	(4,088)
Operating income (loss)	(1,285)	2,391)	1,220)	335)	87)	3,617)
Interest income	24)	6)	7)	28)	57)	60)
Interest expense	(312)	(304)	(326)	(413)	(469)	(676)
Other income (expense), net	13)	30)	26)	4)	38)	(916)
Interest and other income (expense), net	(275)	(268)	(293)	(381)	(374)	(1,532)
Income (loss) before taxes	(1,560)	2,123)	927)	(46)	(287)	2,085)
Income tax expense	(146)	(623)	(106)	(204)	(467)	(1,410)
Net income (loss)	(1,706)	1,500)	821)	(250)	(754)	675)
Cumulative dividends allocated to preferred shareholders	(24)	—)	—)	—)	—)	—)
Net income (loss) attributable to common shareholders	(1,730)	1,500)	821)	(250)	(754)	675)

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29).

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Income statement item	Description	The company
Revenue, net	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Western Digital Corp. revenue, net increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Western Digital Corp. operating income (loss) increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income (loss) before taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Western Digital Corp. income (loss) before taxes increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net income (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Western Digital Corp. net income (loss) increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Western Digital Corp. (NASDAQ:WDC)

Income Statement