Western Digital beats profit and revenue forecasts for quarter ended September 30

what happened

Western Digital Corp reported results for the quarter ended September 30. Adjusted earnings came in at $4.64 per share, above the $4.09 average analyst estimate and the $1.78 posted a year earlier. Revenue climbed 55.5% to $4.38 billion, compared with roughly $4.14 billion expected. Quarterly net income reached $1.78 billion. The figures were published by Earnings Summary, citing LSEG data.

The shares fell 16.7% over the quarter but are up 119.7% so far this year. Analysts raised their earnings estimates by about 8.3% over the last three months, and no negative revisions were recorded in the past 30 days. Of 27 analysts covering the stock, 20 rate it a buy, 7 hold, and none sell. The median 12-month price target is $625, about 39.4% above the last close of $378.51.

why it matters

The report matters for the storage market, where demand for data drives revenue for hard drive and flash makers. Beating both profit and revenue estimates while analysts keep raising forecasts draws attention to the sector, yet the quarterly share decline suggests some optimism was already priced in.

market impact

WDC and storage sector: results above forecasts support investor interest in the group

tags

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