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Western Digital stock drops as outlook falls short of Street view

Editorial Staff by Editorial Staff
October 29, 2021
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Western Digital stock drops as outlook falls short of Street view

KUCHING, 23 Dis -- TUTUP ... Penutupan operasi kilang pemacu cakera keras, Western Digital di Zon Perindustrian Bebas Samajaya, di sini menyebabkan lebih 1,500 pekerja hilang mata pencarian. Pekerja di Western Digital itu merupakan sebahagian daripada 4,749 orang yang telah hilang dan akan hilang pekerjaan mereka akibat kelembapan ekonomi dunia baru-baru ini. Angka itu juga merupakan jangkaan kerajaan berdasarkan kepada laporan daripada 102 majikan yang akan mengurangkan kos operasi mereka secara beransur-ansur dalam tempoh tiga bulan pertama tahun depan. --fotoBERNAMA HAKCIPTA TERPELIHARA *** Local Caption *** Dark clouds loom: The fate of 1,500 workers is in limbo with the closure of the Western Digital plant in Kuching next March. — Bernama *********************************** RM3.87BIL INVESTMENT Western Digital Corp is investing US$1.2bil (RM3.87bil) in Malaysia over the next five years 20100519 Nation Pg1 - Magean

Western Digital Corp. shares dropped in the extended session Thursday after the data-storage device company’s outlook fell well short of Wall Street expectations.

Western Digital WDC, +3.24% shares fell 9% after hours, following a 3.2% rise in the regular session to close at $57.28.

The company expects adjusted second-quarter earnings of $1.95 to $2.25 a share on revenue of $4.7 billion to $4.9 billion, while analysts surveyed by FactSet had forecast $2.67 a share on revenue of $5.28 billion.

The company reported a fiscal first-quarter profit of $610 million, or $1.93 a share, versus a loss of $60 million, or 20 cents a share, in the year-ago period. Adjusted earnings were $2.49 a share, compared with 65 cents a share in the year-ago period.

Revenue rose to $5.05 billion from $3.92 billion in the year-ago quarter. Analysts had forecast earnings of $2.45 a share on revenue of $5.06 billion.

“Strong demand across diverse end markets, particularly for our cloud products, combined with Western Digital’s strong innovation engine, broad routes to market and sharpened execution, enabled us to deliver solid results within our guidance range, even in the face of significant COVID impacts and supply-chain disruptions,” said David Goeckeler, Western Digital chief executive, in statement.

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