DJ Western Digital stock pops as earnings, outlook beat Street

Dow Jones2021-04-30

DJ Western Digital stock pops as earnings, outlook beat Street

Western Digital Corp. $(WDC)$ shares rallied in the extended session Thursday after the data-storage products company's quarterly results and outlook topped Wall Street estimates. Western Digital shares surged 7% after hours, following a 0.8% gain in the regular session to close at $71.13. The company reported fiscal third-quarter net income of $197 million, or 63 cents a share, compared with $17 million, or 6 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.02 a share, compared with 85 cents a share in the year-ago period. Revenue declined to $4.14 billion from $4.18 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 68 cents a share on revenue of $3.97 billion. Western Digital forecast earnings of $1.30 to $1.60 a share on revenue of $4.4 billion to $4.6 billion for the fiscal fourth quarter. Analysts had estimated $1.02 a share on revenue of $4.27 billion for the quarter.

-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com

$(END)$ Dow Jones Newswires

April 29, 2021 16:58 ET (20:58 GMT)

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SKuan
2021-04-30
SKuan
Finally pops，Huat Ahhh!

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