Analysts Expect WDC’s Revenue to Rise 6% in Fiscal 3Q18
Revenue of $4.9 billion estimated by analysts
Storage company Western Digital (WDC) is expected to announce its fiscal 3Q18 results on April 20, 2018. Peers Seagate (STX), NetApp (NTAP), and IBM (IBM) are set to announce their quarterly results on May 1, May 23, and April 18, respectively.
Analysts expect WDC to post revenue of $4.93 billion in fiscal 3Q18, a rise of 6% YoY (year-over-year) compared to its revenue of $4.65 billion in fiscal 3Q17. Wall Street has a high revenue estimate of $5.03 billion and a low estimate of $4.9 billion for the company in the quarter, which ended in March 2018.
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Comparatively, analysts expect WDC to post non-GAAP (generally accepted accounting principles) EPS (earnings per share) of $3.29 in fiscal 3Q18. They have a high EPS estimate of $3.49 and a low estimate of $3.19 on the stock. Analysts expect WDC’s EPS to rise nearly 38% YoY in fiscal 3Q18 compared to $2.39 in fiscal 3Q17.
Earnings beats in the last four quarters
As we can see in the chart above, WDC has beaten analysts’ EPS estimates in each of the last four quarters. In fiscal 2Q18, WDC reported EPS of $3.95, which was 4.2% above analysts’ estimate of $3.79.
WDC posted EPS of $3.56, $2.93, and $2.39, respectively, in fiscals 1Q18, 4Q17, and 3Q17. In these quarters, its EPS were 7.9%, 4.3%, and 11.7% higher than analysts’ estimates, respectively.