Jefferies Remains Sidelined on Western Digital (WDC) Following 4Q Pre-Announcement
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Western Digital Updates Fourth Fiscal Quarter Outlook and Reiterates Guide for Calendar Year 2017
June 26, 2017 4:05 PM EDTSAN JOSE, Calif.--(BUSINESS WIRE)-- Western Digital Corp. (NASDAQ: WDC) today updated its expectations for the fourth fiscal quarter of 2017 and reiterated its non-GAAP earnings forecast of approximately $12 per share for calendar year 2017.
The company now expects fourth quarter revenue of approximately $4.8 billion, non-GAAP gross margin of approximately 41% and non-GAAP earnings per share of $2.85. This compares with the prior outlook provided on April 27 of revenue of approximately $4.8 billion, non-GAAP gross margin of approximately 40% and non-GAAP earnings per share in the range of $2.55 to $2.65. The better-than-anticipated profitability is being driven by continued... More
