Western Digital Shares Rally After Q1 Results: EPS Beat, Revenues Miss
Portfolio Pulse from Erica Kollmann
Western Digital Corp. (NASDAQ:WDC) reported its Q1 results, with EPS beating expectations but revenues slightly missing. The company saw significant growth in cloud revenue and expects positive Q2 guidance. Shares rose 8.19% after-hours.
October 24, 2024 | 8:47 pm
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Western Digital's Q1 earnings per share beat expectations, but revenue slightly missed. The company saw strong growth in cloud revenue and provided positive guidance for Q2. Shares rose 8.19% after-hours.
The EPS beat and strong cloud revenue growth are positive indicators, while the slight revenue miss is a minor concern. The positive Q2 guidance further boosts investor confidence, leading to an 8.19% rise in shares after-hours.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100