Western Digital (WDC) Stock Sinks 10% Following Q1 Beat & Mixed Guidance

Western Digital (NASDAQ: WDC) shares were trading more than 10% lower after-hours following the company’s reported Q1 results, with EPS coming in at $2.49, beating the Street estimate of $2.11. Quarterly revenue grew 29% year-over-year to $5.1 billion (vs. Street’s $4.36 billion), with Cloud revenue up 72%, Client revenue up 6%, and Consumer revenue up 10% year-over-year.

The company provided its Q2 outlook, expecting EPS of $1.95-$2.25 (vs Street’s $2.39) and revenue of $4.7-4.9 billion (versus Street’s $4.59 billion).

Western Digita noted significant COVID impacts and supply chain disruptions.

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