Western Digital beats by $0.18, reports revs in-line; guides MarQ EPS below consensus, revs below consensus (53.84 -0.74)
- Reports Q2 (Dec) earnings of $2.30 per share, excluding non-recurring items, $0.18 better than the S&P Capital IQ Consensus of $2.12; revenues rose 22.6% year/year to $4.83 bln vs the $4.82 bln S&P Capital IQ Consensus.
- Co issues downside guidance for Q3 (Mar), sees EPS of $1.50-1.80, excluding non-recurring items, vs. $1.93 S&P Capital IQ Consensus; sees Q3 revs of $4.45-4.65 bln vs. $4.73 bln S&P Capital IQ Consensus.
- "While we continue to experience strong demand across our end markets, these challenges continue to present a headwind to near-term results. We've executed well in building a solid foundation for future profitable growth driven by innovative products within our flash and hard drive businesses. As these transitory headwinds subside, we expect to emerge in a stronger position..."