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Western Digital (WDC) Q4 Earnings Top Expectations

Western Digital (NASDAQ:WDC) reported its latest quarterly earnings results late in the day Thursday, which topped analysts’ expectations but shares still fell slightly after hours.

WDC stockFor its fourth quarter of fiscal 2019, the computer data storage company impressed by bringing in adjusted earnings of $1.1 billion, ahead of the $881 million that it brought in during the year-ago quarter. The company’s bottom line tallied up to $756 million for its fourth quarter, or $2.46 per share.

The figure was well ahead of Western Digital’s bottom line of $280 million, or 93 cents per share, from the company’s year-ago quarter. On an adjusted basis, the company’s earnings came in at $3.61 per share, which is stronger than the $3.50 per share that analysts were calling for in the Wall Street consensus estimate, according to data compiled by Thomson Reuters.

The figure was also better than the $2.93 per share that the data storage company garnered in adjusted earnings during its fourth quarter of fiscal 2017. Western Digital also impressed from the revenue front as its sales rose 5.8% to $5.12 billion from the $4.84 billion it raked in during the year-ago quarter.

WDC stock was up 1.9% during regular trading hours in anticipation of the company’s quarterly earnings results. Shares were down a fraction of a percentage after the bell Thursday.

Western Digital’s stock is now trading at $77.09 per share, which is below the $80.08 per share it reached on Tuesday, July 10.


Article printed from InvestorPlace Media, https://investorplace.com/2018/07/wdc-stock-western-digital-earnings/.

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