Western Digital Q2 Adj EPS $(0.69) Beats $(1.13) Estimate, Sales $3.03B Beat $2.99B Estimate
Portfolio Pulse from Benzinga Newsdesk
Western Digital (NASDAQ:WDC) reported a smaller-than-expected adjusted loss of $(0.69) per share for Q2, beating the $(1.13) estimate. Sales were $3.03B, surpassing the $2.99B estimate but marked a 2.41% decrease from the previous year. The EPS decrease was 64.29% compared to last year's $(0.42) per share.
January 25, 2024 | 9:06 pm
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Western Digital reported a Q2 adjusted loss per share of $(0.69), outperforming the $(1.13) estimate, with sales of $3.03B exceeding expectations. Year-over-year, there's a decline in both EPS and sales.
The better-than-expected earnings report is likely to have a positive short-term impact on Western Digital's stock price. Beating both EPS and sales estimates can lead to increased investor confidence, despite the year-over-year declines. The market typically reacts favorably to earnings beats, which could result in a short-term uptick in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100