BUZZ-Western Digital jumps after upbeat Q2 earnings forecast

Reuters
10/31
BUZZ-<a href="https://laohu8.com/S/WDCVV">Western Digital</a> jumps after upbeat <a href="https://laohu8.com/S/QTWO">Q2</a> earnings forecast

** Shares of hard drive maker Western Digital WDC.O jump more than 10% to $152.49 premarket

** WDC expects Q2 adj EPS of $1.88, plus or minus 15 cents, above analysts' average estimate of $1.71, according to data compiled by LSEG

** Co sees Q2 revenue of $2.9 bln, plus or minus $100 mln, above estimates of $2.82 mln

** WDC also increases quarterly cash dividend on its common stock by 25% to $0.125 per share

** WDC reports Q1 revenue of $2.82 bln, beating estimates of $2.73 bln, on higher demand for its data storage products

** Co posts adj EPS of $1.78 in Q1, topping estimates of $1.58

** At least seven brokerages raise their PT on WDC after results

** Brokerage TD Cowen says it sees upside for WDC as "visibility extends into 2027 in a rational duopoly industry"

** Up to last close, stock has more than tripled this year

(Reporting by Arnav Mishra in Bengaluru)

((Arnav.Mishra@thomsonreuters.com;))

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