Reports Q4 revenue $2.61B, consensus $2.47B. “Western Digital (WDC) executed well in its fiscal fourth quarter, achieving revenue and gross margin above the high end of our guidance range while delivering strong free cash flow. In addition, during the quarter, we reduced debt by $2.6 billion, initiated a cash dividend, and announced the authorization of a $2.0 billion share repurchase program, reflecting our confidence in the long-term cash generating capability of our business,” said Irving Tan, CEO of Western Digital. “We are confident that HDDs will continue to remain the foundation of the world’s data infrastructure, delivering unmatched value for mass storage in an AI-driven future.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WDC:
- Notable companies reporting after market close
- Western Digital call volume above normal and directionally bullish
- Western Digital price target lowered to $83 from $85 at Morgan Stanley
- Western Digital price target raised to $85 from $60 at Cantor Fitzgerald
- WDC Upcoming Earnings Report: What to Expect?