The Main Points
- Western Digital reported fiscal fourth-quarter revenue of $3.75 billion, up 44% year-over-year, with adjusted earnings of $3.56 per share versus the $3.27-$3.29 analysts expected.
- For the full fiscal year, revenue reached $12.92 billion, up 36%, with adjusted earnings per share more than doubling to $10.22 from $5.02 a year earlier.
- Despite the beat, shares fell in after-hours trading — Goldman Sachs noted the results were strong, but market expectations heading in were simply too high after the stock's 238% run-up this year.
- The company guided for another strong quarter ahead, forecasting revenue growth of 42% to 49% year-over-year, and raised its quarterly dividend.