Western Digital Sees Q4 2024 EPS $0.90-$1.20 Vs $0.84 Est.; Revenue $3.6B-$3.8B Vs $3.69B Est.
Portfolio Pulse from Benzinga Newsdesk
Western Digital forecasts Q4 2024 EPS of $0.90-$1.20, surpassing the $0.84 estimate, with revenue expectations of $3.6B-$3.8B against a $3.69B estimate. The company anticipates a gross margin of 31.5%-33.5% on a GAAP basis and 32%-34% on a Non-GAAP basis, with operating expenses between $770M-$800M (GAAP) and $670M-$690M (Non-GAAP). Interest and other expenses are expected to be around $105M, with Non-GAAP income tax expenses projected at $30-$40M.
April 25, 2024 | 8:11 pm
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POSITIVE IMPACT
Western Digital projects higher than expected Q4 2024 EPS and revenue, indicating a positive outlook with increased profitability and revenue growth.
The projection of higher EPS and revenue than analyst estimates typically leads to positive investor sentiment and could result in a short-term stock price increase. The detailed financial guidance, including gross margin and operating expenses, provides further clarity on the company's operational efficiency and cost management, reinforcing the positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100