.August 1, 2024 10:15 AM

Western Digital Corp. (NASDAQ:WDC) saw a 4% drop in pre-market trading following a fourth-quarter revenue miss and cautious first-quarter outlook. Despite beating earnings estimates at $1.44 per share, revenue of $3.76 billion fell slightly short of the expected $3.74 billion. However, this revenue marks a significant 41% increase from the previous year’s $2.672 billion.

For the first quarter of 2025, Western Digital’s guidance fell below analyst expectations. Earnings are projected between $1.55 and $1.85 per share, with revenue expected to range from $4 billion to $4.2 billion, both below consensus estimates.

CEO David Goeckeler highlighted the company’s progress and strategic positioning amidst market recovery. He emphasized improvements in profitability for Flash and HDD segments and the transformative impact of the AI Data Cycle, expected to drive increased demand for storage solutions.