Western Digital Corp. (Nasdaq: WDC) today reported fiscal second quarter 2022 financial results. "I'm proud of the Western Digital team for delivering another quarter of strong results that exceeded guidance, even in the midst of ongoing supply chain disruptions and COVID-related challenges," said David Goeckeler, Western Digital CEO. "While we continue to experience strong demand across our end markets, these challenges continue to present a headwind to near-term results. We've executed well in building a solid foundation for future profitable growth driven by innovative products within our flash and hard drive businesses. As these transitory headwinds subside, we expect to emerge in a stronger position to drive better through-cycle results, creating value for our shareholders, employees and customers."

The company generated $666 million in cash flow from operations, made a total debt repayment of $2.21 billion, issued $1.00 billion in notes and ended the quarter with $2.53 billion of total cash and cash equivalents. During the quarter, the company fully repaid the remaining balance of its Term-Loan B-4 in an amount of $943 million, and repaid $1.27 billion on its Term-Loan A-1. In addition, the company closed a public offering of $1.00 billion aggregate principal amount in senior unsecured notes, bringing total gross debt outstanding to $7.40 billion at the end of the fiscal second quarter.