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Recap: Western Digital Q3 Earnings

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.

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