Western Digital Corp reports results for the quarter ended in January 1 - Earnings Summary

Western Digital

27/10/2024 15:44

* Western Digital Corp  WDC.OQ  reported quarterly adjusted
earnings of $1.78​​ per share for the quarter ended January 1,
higher than the same quarter last year, when the company
reported EPS of $-1.76.  The mean expectation of twenty
one analysts for the quarter was for earnings of $1.72 per
share. Wall Street expected results to range from $1.59 
to $1.90 per share.
    * Revenue rose 48.9% to $4.10 billion from a year ago;
analysts
expected $4.12 billion. 
    * Western Digital Corp's reported EPS for the quarter was
$1.35​.
    * The company reported quarterly net income of $481 million.
    * Western Digital Corp shares had fallen by 2.9% this
quarter and
gained 26.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.4%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 19 "strong buy" or "buy," 8
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the computer
hardware
peer group is also "buy"

Wall Street's median 12-month price target for Western Digital
Corp is $90.00 
This summary was machine generated from LSEG data October 27 at
03:43 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      1.72           1.78           Beat
 Jun. 30 2024      1.17           1.44           Beat
 Mar. 31 2024      0.21           0.63           Beat
 Dec. 31 2023      -1.13          -0.69          Beat