Recap: Western Digital Q1 Earnings

Western Digital WDC reported its Q1 earnings results on Thursday, October 28, 2021 at 04:01 PM.

Here's what investors need to know about the announcement.

Western Digital beat their estimated earnings by 18.57%, reporting an EPS of $2.49 versus an estimate of $2.1, which surprised analysts.

Revenue was up $1,129,000,000 from the same period last year.

Last quarter the company beat on EPS by $0.67, which was followed by a 3.28% increase in the share price the next day.

Here's a look at Western Digital's past performance:

Quarter	Q4 2021	Q3 2021	Q2 2021	Q1 2021
EPS Estimate	1.49	0.68	0.54	0.54
EPS Actual	2.16	1.02	0.69	0.65
Revenue Estimate	4.53B	3.97B	3.87B	3.83B
Revenue Actual	4.92B	4.14B	3.94B	3.92B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Western Digital management provided guidance for their next quarter, expecting earnings between $2.25 and $2.55 per share for the nextquarter.

This represents a -3.61% in quarter-over-quarter growth for Western Digital, a bearish signal to many investors.

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