Western Digital Second Quarter Earnings Sneak Peek
S&P 500 (NYSE:SPY) component Western Digital (NASDAQ:WDC) will unveil its latest earnings tomorrow, Wednesday, January 23, 2013. Western Digital designs, develops, manufactures, and sells hard drives.
Western Digital Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.82 per share, a rise of more than twofold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $2.47. Between one and three months ago, the average estimate moved down. It has risen from $1.80 during the last month. Analysts are projecting profit to rise by 0.9% compared to last year’s $7.73.
Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked net income of $2.36 per share versus a mean estimate of profit of $2.31 per share.
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A Look Back: In the first quarter, profit rose more than twofold to $519 million ($2.06 a share) from $239 million ($1.01 a share) the year earlier, exceeding analyst expectations. Revenue rose 49.8% to $4.04 billion from $2.69 billion.
Here’s how Western Digital traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week: