Western Digital (WDC) Misses Q3 EPS by 29c, Revenues Miss

Western Digital (NASDAQ: WDC) reported Q3 EPS of $0.17, $0.29 worse than the analyst estimate of $0.46. Revenue for the quarter came in at $3.674 billion versus the consensus estimate of $3.68 billion.

“Market conditions have generally been consistent with our expectations, and while the business environment remains soft, there are initial indications of improving trends,” said Steve Milligan, chief executive officer, Western Digital. “Our expectation for the demand environment to further improve for both flash and hard drive products for the balance of calendar 2019 is largely unchanged. We are executing well on enhancing our product portfolio, driving technology advancements, rightsizing our factory production levels and lowering our cost and expense structure, all of which position us to emerge stronger as market conditions improve.”

For earnings history and earnings-related data on Western Digital (WDC) click here.

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