Investing
Western Digital fiscal Q2 results, guidance beat estimates
© Reuters.
Investing.com – Western Digital reported Thursday fiscal second-quarter results and guidance that beat analysts’ forecasts even as memory manufacturer saw dip in margins.
Western Digital Corporation (NASDAQ:) fell 4% in afterhours trade.
Western Digital a loss per share of $0.69 on revenue of $3.03 billion. Analysts polled by Investing.com anticipated loss of $1.13 on revenue of $2.99B.
The beat on the top line comes even as revenue slipped 2% year-on-year and non-gaap gross margin fell 1.9% to 16.2% from a year earlier.
Cloud revenue fell 13% in Q2 from the same period a year earlier, driven by lower eSSD bit shipments. Client and consumer segments saw revenue rise 3% and 6%, respectively.
For fiscal Q3, the company forecasts adjusted EPS in a range of -$0.10 to $0.20 on revenue in a range of $3.20B to $3.40B, beating analyst estimates for a loss of $0.50 on revenue of $3.09B.
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