Western Digital (NASDAQ:WDC) reported its Q3 earnings results on Thursday, April 28, 2022 at 04:01 PM.
Here's what investors need to know about the announcement.
Earnings
Western Digital beat estimated earnings by 17.02%, reporting an EPS of $1.65 versus an estimate of $1.41.
Revenue was up $244.00 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.43 which was followed by a 7.32% drop in the share price the next day.
Here's a look at Western Digital's past performance:
| Quarter | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|
| EPS Estimate | 1.87 | 2.10 | 1.49 | 0.68 |
| EPS Actual | 2.30 | 2.49 | 2.16 | 1.02 |
| Revenue Estimate | 4.25B | 4.33B | 4.53B | 3.97B |
| Revenue Actual | 4.83B | 5.05B | 4.92B | 4.14B |
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 Q4 2022, expecting earnings between $1.6 and $1.9 per share.
To track all earnings releases for Western Digital visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
