Western Digital Reports Weak Outlook Despite Q4 Beat

Western Digital (NASDAQ:WDC) is facing challenges as it guided for a larger loss in Q1/24, despite reporting Q4 results that surpassed Wall Street estimates.

For Q4, Western Digital posted an adjusted loss of $1.98 per share on revenue of $2.70 billion. Wall Street analysts had predicted a slightly higher loss of $2.02 per share on revenue amounting to $2.53 billion.

Looking ahead to Q1, the company's guidance indicates a projected loss in the range of $1.80 to $2.10 per share, with revenue expected to fall between $2.55 billion and $2.75 billion. These estimates are below what analysts were expecting, with Street estimates predicting a loss of $1.43 per share and revenue of $2.26 billion.