Western Digital Exceeded Earnings, Missed Revenue in Q4
Western Digital (NASDAQ:WDC) on Friday reported fourth-quarter earnings that beat analysts’ estimates and revenue that fell short of expectations.
Western Digital posted earnings per share of $1.78 on revenue of $4.53 billion. Analysts surveyed by Investing.com expected earnings per share of $1.74 on revenue of $4.58 billion.
Western Digital shares are down 23% year-to-date and are down 28.69% from the 52-week high of $69.99 it hit on August 25, 2021. It underperforms the Nasdaq, which is down 18.69% since the start of the year.
The company shares fell 6.17% in pre-market trading after the report.
The company follows other notable gainers in the Information Technology sector this month
Western Digital’s report came after Apple, which reported EPS of $1.2 on revenue of $82.96 billion on July 28, beat earnings estimates with EPS of $1.16 on revenue of $82.79 billion.
Microsoft had missed expectations with fourth-quarter EPS of $2.23 on revenue of $51.87 billion on July 26, compared to an EPS estimate of $2.29 on revenue of $52.38 billion.
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