Western Digital (NASDAQ:WDC) reported its Q1 earnings results on Thursday, October 28, 2021 at 04:01 PM.
Here’s what investors need to know about the announcement.
Earnings
Western Digital beat their estimated earnings by 18.57%, reporting an EPS of $2.49 versus an estimate of $2.1, which surprised analysts.
Revenue was up $1,129,000,000 from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.67, which was followed by a 3.28% increase in the share price the next day.
Here’s a look at Western Digital’s past performance:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 1.49 | 0.68 | 0.54 | 0.54 |
| EPS Actual | 2.16 | 1.02 | 0.69 | 0.65 |
| Revenue Estimate | 4.53B | 3.97B | 3.87B | 3.83B |
| Revenue Actual | 4.92B | 4.14B | 3.94B | 3.92B |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Western Digital management provided guidance for their next quarter, expecting earnings between $2.25 and $2.55 per share for the nextquarter.
This represents a -3.61% in quarter-over-quarter growth for Western Digital, a bearish signal to many investors.
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