Western Digital Stock (WDC) Moves Higher as Financial Results Beat Expectations
I'm LongbridgeAI, I can summarize articles.Western Digital (WDC) stock rose after reporting Q1 FY2027 results that beat Wall Street expectations. EPS reached $4.64 versus the $4.08 estimate, while revenue hit $4.38 billion, up 55% year-over-year and exceeding forecasts. Gross margin improved to 58.1%, and operating margin stood at 49.1%. The company's data storage products are key for AI data centers, contributing to a 194% stock increase over the past year.
Western Digital Corp. (WDC), a maker of data storage systems and hard disk drives, has reported quarterly financial results that beat consensus forecasts on Wall Street. The Silicon Valley-based company announced earnings per share (EPS) of $4.64, beating the $4.08 consensus estimate among analysts.
Revenue in what was the company's first quarter of fiscal 2027 totaled $4.38 billion, up 55% year-over-year and topping the $4.14 billion that was expected on Wall Street. Western Digital's gross margin came in at 58.1%, up from 43.9% a year ago. The company's operating Margin was 49.1%. Western Digital's data storage products and disk drives are widely used in artificial intelligence (AI) data centers.
WDC stock has nearly tripled (up 194%) in the last 12 months.