Western Digital Tumbles as Guidance Comes in Well Below Expectations

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Updated Aug. 5, 2022 9:01 am ET / Original Aug. 5, 2022 8:13 am ET

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Western Digital stock tumbled in premarket trading despite the company beating fourth-quarter earnings estimates. The problem was with the guidance.

Western Digital (ticker: WDC ) said it expects first-quarter adjusted earnings per share to range between 35 cents and 65 cents, well below consensus estimates for $1.88, according to FactSet. Revenue will range between $3.6 billion and $3.8 billion, below estimates for $4.75 billion.

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