Western Digital (NASDAQ:WDC) shares rose nearly 13% in pre-market today after beating quarterly earnings expectations. They reported a Q1 loss of $1.76 per share, which is $0.15 better than the anticipated $1.91 loss, and revenue was $2.75 billion, surpassing the expected $2.66 billion.

While revenue increased 3% quarter-over-quarter due to 11% and 14% rises in Client and Consumer revenue respectively, Cloud revenue fell 12% quarter-over-quarter.

For Q2/24, the company forecasts a loss per share between $1.35 and $1.05 and revenue between $2.85 billion to $3.05 billion, compared to Street estimates of a $1.39 loss and $2.92 billion revenue.