Western Digital

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We adjust our 12-month target by $1 to $47 on a P/E of 9.8x our FY 2025 EPS view, within historical forward averages. We widen our FY 2024 loss per share estimate to -$3.28 from -$3.12 and lower our FY 2025 EPS view to $4.76 from $5.34. WDC posted Sep-Q EPS of -$1.76 vs. -$1.98, beating consensus by $0.14. Sales fell 26% on sharp HDD (-41%) and flash memory (-10%) declines. Gross margins expanded 0.2%-pts to 4.1%, which included an 8.5%-pt headwind from underutilization charges ($225M) and other one-time charges ($9M). We view WDC’s decision to spin off its Flash business into a separate public company as a strategic positive that should unlock shareholder value, as each entity will be able to optimize its operations and advance […]

Western Digital Reports Fiscal First Quarter 2024 Financial Results News Summary — First quarter revenue was $2.75 billion, up 3% sequentially (QoQ). Cloud revenue decreased 12% (QoQ), Client revenue increased 11% (QoQ) and Consumer revenue increased 14% (QoQ). — First quarter GAAP earnings per share (EPS) was $(2.17) and Non-GAAP EPS was $(1.76), which includes $225 million of underutilization-related charges in Flash and HDD. — Expect fiscal second quarter 2024 revenue to be in the range of $2.85 billion to $3.05 billion. — Expect Non-GAAP EPS in the range of $(1.35) to $(1.05), which includes $110 to $130 million of underutilization-related charges in Flash and HDD. SAN JOSE, Calif.–(BUSINESS WIRE)–October 30, 2023– Western Digital Corp. (Nasdaq: WDC) today reported fiscal first quarter 2024 financial results. “Western Digital’s fiscal first quarter results exceeded our expectations as the team’s efforts to bolster business agility and develop differentiated and innovative products across a

WESTERN DIGITAL Posts Q1 Revenue $2.75B, Vs. Street Est of $2.66B.

Western Digital (NASDAQ:WDC) reported a fiscal Q4 non-GAAP loss  of $1.98 per diluted share, compared with earnings of $1.78 per share a year earlier. Analysts polled by Capital IQ expected a loss of $2.02. Revenue for the quarter ended June 30 was $2.67 billion, down from $4.53 billion a year earlier. Analysts surveyed by Capital IQ expected $2.52 billion. The company said it expects a fiscal Q1 non-GAAP diluted loss between $2.10 and $1.80 and revenue between $2.55 billion and $2.75 billion. Analysts polled by Capital IQ expect a loss of $1.40 and revenue of $2.76 billion.

January 31, 2023 — Western Digital Corp. (Nasdaq: WDC) today reported fiscal second quarter 2023 financial results. Western Digital (NASDAQ: WDC) Revenue for Q2 2023 was $3.11 billion, down 35.71% year-over-year。 reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.34), RTT News reports. Western Digital had a positive return on equity of 5.78% and a negative net margin of 0.59%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.97 billion. Fiscal Second Quarter 2023 Financial Results Second quarter revenue was $3.11 billion, at the high end of the guidance range. Second quarter GAAP earnings per share (EPS) was $(1.40) and Non-GAAP EPS was $(0.42), which includes $100 million of underutilization related charges in HDD. Second quarter GAAP operating loss was $321 million and Non-GAAP operating loss was $119 million. Expect fiscal third quarter 2023 revenue