Western Digital (NASDAQ:WDC) delivered its fiscal second-quarter results on Thursday, outperforming analysts’ expectations despite experiencing a decrease in margins. However, following the report, Western Digital shares saw a more than 3% decline in pre-market today.

The company reported a loss per share of $0.69 on revenue of $3.03 billion. This result was more favorable than the loss of $1.13 on revenue of $2.99 billion that analysts had predicted.

The company’s cloud revenue decreased by 13% in Q2 compared to the same period last year, primarily due to a reduction in eSSD bit shipments. In contrast, revenue in the client and consumer segments saw an increase of 3% and 6%, respectively.

Looking ahead to fiscal Q3, Western Digital expects adjusted EPS to range from -$0.10 to $0.20 on revenue between $3.20 billion and $3.40 billion. This forecast surpasses analyst predictions of a $0.50 loss on revenue of $3.09 billion.

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