Western Digital Stock Slides On Soft Outlook: The Details
Portfolio Pulse from Adam Eckert
Western Digital Corp (NASDAQ:WDC) reported Q4 revenues of $2.67 billion, beating estimates of $2.52 billion, and a loss of $1.98 per share, also beating estimates. However, revenues were down 5.4% sequentially, with cloud revenue falling 18%. The company expects Q1 revenue to be between $2.55 billion and $2.75 billion, lower than estimates of $2.75 billion. Western Digital shares were down 1.95% after hours.
July 31, 2023 | 9:16 pm
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Western Digital's Q4 results beat estimates but the company's soft Q1 outlook and sequential revenue decline led to a 1.95% drop in after-hours trading.
Western Digital's Q4 results were better than expected, but the company's Q1 outlook is softer than anticipated, which could negatively impact investor sentiment. Additionally, the sequential decline in revenues, particularly in the cloud segment, could be a concern for investors, leading to the drop in the stock price.
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IMPORTANCE 80
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