Western Digital gains after topping Q1 profit estimates

Western Digital

25/10/2024 10:20

** Shares of memory chip maker Western Digital  WDC.O  rise
12.5% to $74.65 premarket
** Co topped Wall Street estimates for qtrly profit on demand
for its data storage products
** Western Digital reported FY25 Q1 adj EPS of $1.78, beating
analysts' expectations of $1.72 - LSEG 
    ** Co reported Q1 rev of $4.10 bln v est of $4.12 bln
    ** Rev from cloud market climbed 17% to $2.21 bln
sequentially
    ** Expects Q2 rev of $4.20 bln-$4.40 bln, whose mid- point
is below estimate of $4.34 bln, according to LSEG data
    ** Expects adj EPS of $1.75 to $2.05, compared with est of
$1.93
    ** Stock up 26.6% YTD

(Reporting by Sukriti Gupta in Bengaluru)
((mailto:Sukriti.Gupta@thomsonreuters.com;))