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Western Digital (NASDAQ: WDC) reported Q2 FY2024 results in line with analyst expectations, with revenue down 2.4% to $3.03 billion. The company expects next quarter’s revenue to be around $3.3 billion. This quarter saw a non-GAAP EPS of -$0.69 compared to -$0.42 last year. This following quarter will have a non-GAAP EPS guidance at $0.05 billion. The company had a 2.4% decline in revenue and is predicting a 17.7% growth in the next quarter. Western Digital stock is currently selling at $57.22 per share.

The increase in inventory days outstanding to 115 suggests a weakening demand for Western Digital’s products, causing their inventory levels to rise.

Analysts are expecting 30.6% growth over the next 12 months. However, the stock was down 5.2% after reporting earnings.

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Read more: Western Digital (NASDAQ:WDC) Reports Q2 In Line With Expectations, Next Quarter Sales Guidance Is Optimistic