Western Digital Reports Q3 Earnings Beat, Shares Up 1%

Western Digital (NASDAQ: WDC) shares were trading more than 1% higher after-hours following the company’s reported Q3 results, with EPS of $1.65 coming in better than the consensus estimate of $1.42.

Revenue grew 6% year-over-year to $4.38 billion, beating the consensus estimate of $4.08 billion. Cloud revenue grew 25%, Client revenue fell 2%, and Consumer revenue fell 8% year-over-year.

The company expects Q4/22 EPS in the range of $1.60-$1.90, compared to the consensus of $1.69, and revenue in the range of $4.5-4.7 billion, compared to the consensus of $4.36 billion.

Shares of Western Digital were down 19% year-to-date going into the results.

By Davit Kirakosyan

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