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

Western Digital

31/07/2024 22:01

* Western Digital Corp  WDC.OQ  reported quarterly adjusted
earnings of $1.44​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of $-1.98.  The mean expectation of twenty
one analysts for the quarter was for earnings of $1.17 per
share. Wall Street expected results to range from 97 cents
to $1.66 per share.
    * Revenue rose 40.9% to $3.76 billion from a year ago;
analysts
expected $3.74 billion. 
    * Western Digital Corp's reported EPS for the quarter was 88
cents​.
    * The company reported quarterly net income of $307 million.
    * Western Digital Corp shares had fallen by 16.6% this
quarter and
gained 20.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.3%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 21 "strong buy" or "buy," 6
"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 July 31 at
09:00 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
 Jun. 30 2024      1.17           1.44           Beat
 Mar. 31 2024      0.21           0.63           Beat
 Dec. 31 2023      -1.13          -0.69          Beat
 Sep. 30 2023      -1.90          -1.76          Beat