Western Digital (WDC) Earnings & Revenues Miss Estimates In Q3
Zacks Investment Research | Apr 29, 2019 10:39PM ET
Western Digital Corporation (NASDAQ:WDC) reported third-quarter fiscal 2019 non-GAAP earnings of 17 cents per share which lagged the Zacks Consensus Estimate by 65.3%. The reported figure slumped 95.3% and 88.3% from earnings of $3.63 and $1.45 reported in the year-ago and previous quarter, respectively.
Revenues decreased 26.7% year over year to $3.674 billion, missing the Zacks Consensus Estimate of $3.70 billion. Moreover, the figure declined 13.2% sequentially.
Uncertain macroeconomic environment, declining trend in PC shipments and softness in NAND flash pricing trends adversely impacted results and stock performance.
Notably, shares of Western Digital have shed 35.9% in the past year, against Zacks Investment Research
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