Why Western Digital Stock Got Crushed Today
Shares of Western Digital (NASDAQ: WDC) have gotten crushed today, down by 16% as of 1:30 p.m. EDT, after the company reported fiscal fourth-quarter earnings. The results were mixed compared to expectations and guidance left a lot to be desired.
Revenue in the fiscal fourth quarter was $4.29 billion, shy of the $4.34 billion in sales that the market was hoping for. That resulted in adjusted earnings per share of $1.23, narrowly topping Wall Street's forecast of $1.22 per share in adjusted profits. The computing storage technology company incurred $96 million in incremental costs related to the COVID-19 outbreak.
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Source Fool.com
