Western Digital (Nasdaq: WDC) reported earnings on Oct. 22. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Sep. 28 (Q1), Western Digital beat expectations on revenues and beat slightly on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share increased significantly.

Margins expanded across the board.

Revenue details
Western Digital notched revenue of $4.04 billion. The 15 analysts polled by S&P Capital IQ hoped for a top line of $3.95 billion on the same basis. GAAP reported sales were 50% higher than the prior-year quarter's $2.69 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $2.36. The 19 earnings estimates compiled by S&P Capital IQ anticipated $2.31 per share. GAAP EPS of $2.06 for Q1 were 104% higher than the prior-year quarter's $1.01 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 29.6%, 950 basis points better than the prior-year quarter. Operating margin was 14.7%, 440 basis points better than the prior-year quarter. Net margin was 12.9%, 400 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $4.12 billion. On the bottom line, the average EPS estimate is $2.42.

Next year's average estimate for revenue is $15.71 billion. The average EPS estimate is $8.76.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Western Digital is outperform, with an average price target of $47.52.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool owns shares of Western Digital. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.