Western Digital Stock Slides On Soft Outlook: The Details

Western Digital Corp WDC shares are trading lower in Monday's after-hours session on the heels of the company's quarterly results.

• Q4 Revenue: $2.67 billion beat estimates of $2.52 billion
• Q4 EPS: loss of $1.98 beat estimates for a loss of $2.

Revenues were down 5.4% sequentially. Cloud revenue fell 18%, while client revenue increased 6% and consumer revenue jumped 3%. 

"We are encouraged by several indicators signaling improving Flash market dynamics. Our two largest end markets, Client and Consumer, are returning to growth, inventories are normalizing, content per unit is increasing and price declines have been moderating," said David Goeckeler, CEO of Western Digital.

Outlook: Western Digital said it expects fiscal first-quarter revenue to be between $2.55 billion and $2.75 billion versus estimates of $2.75 billion. The company anticipates a first-quarter adjusted loss of $1.80 to $2.10 per share.

Management will hold a conference call to discuss these results at 4:30 p.m. ET.

WDC Price Action: Western Digital shares were down 1.95% after hours at $41.73 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Western Digital.