Western Digital Q3 Earnings: Revenue Beat, Higher ASP, Upbeat Q4 Guidance And More
Portfolio Pulse from Erica Kollmann
Western Digital Corporation (NASDAQ:WDC) reported Q3 earnings with a significant beat on both earnings per share and revenue forecasts, posting earnings of 63 cents per share against a consensus of 20 cents, and revenue of $3.46 billion against a $3.36 billion estimate. The company saw growth in cloud revenue, client revenue, and consumer revenue, attributing the success to higher nearline shipments, improved pricing, and a diversified product portfolio. Western Digital provided an upbeat Q4 guidance, expecting earnings between 90 cents and $1.20 per share, and revenue between $3.6 billion and $3.8 billion, both forecasts surpassing analyst expectations.
April 25, 2024 | 9:27 pm
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Western Digital reported strong Q3 results, surpassing earnings and revenue expectations, with an optimistic Q4 outlook. The company's diversified portfolio and market strategy contributed to its success.
Western Digital's Q3 earnings beat and positive Q4 guidance indicate strong operational performance and market demand for its products. This positive news is likely to influence investor sentiment positively in the short term, potentially leading to an increase in stock price, despite the after-hours dip.
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