Western Digital heads into fiscal Q3 report with revenue growth expected near 48%

what happened

Western Digital, a major data storage maker, will publish its third-quarter results on Thursday afternoon, according to stockstory.org. Last quarter the company reported revenue of $3.75 billion, up 43.8% from a year earlier, and beat analysts' estimates for operating income and earnings per share. The market now expects revenue to grow 47.5%, compared with 27.4% growth in the same quarter last year. Over the past two years, however, the company has missed Wall Street's revenue estimates several times.

Peers have already reported. Micron posted year-on-year revenue growth of 379%, beating expectations by 6.4%, and its shares rose about 3%. Penguin Solutions reported revenue up 67.7%, topping estimates by 8.8%, and its stock gained 13.1%. Even so, the semiconductor group has fallen 5.9% on average over the past month, while Western Digital is down 16.7% over the same period. The stock trades near $373.25, and the average analyst price target stands at $650.67.

why it matters

Western Digital's report will serve as a benchmark for the storage and memory segment, where demand is tied to AI infrastructure spending. Strong results from Micron and Penguin Solutions raise expectations, but the sector's monthly decline shows investors remain cautious.

market impact

Western Digital and chipmakers: the results set the tone for data storage and memory stocks

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