A report from Western Digital (WDC) for the fiscal second quarter of 2021 drove the stock to a high of $56.43 at the auction on January 29. According to WDC’s financial statements for the past quarter, its total revenue declined 7 percent to $3.9 billion due to a 46 percent decline in sales of data center solutions. Additionally, the segment of client devices saw a 19% growth in revenue. The free cash flow for the company was $149 million. Earnings per share were $0.2 on GAAP.
In the enterprise services segment, WDC sales have been affected by the continuing uncertainty surrounding COVID-19. New high-speed NVMe drives have led to growth in the retail segment. WDC completed certification last quarter for next-generation solid-state drives (SSDs) to meet the world’s largest data center operators’ demands. As a result, WDC will introduce new products during calendar 2021 and grow sales in the enterprise segment once the pandemic has passed.
COVID-19 has, in general, helped accelerate digital trends, especially the
Western Digital (WDC) revenue for the third quarter is expected to be in the range of $ 3.85 -$ 4.05 billion, and GAAP profit is likely to be between $ 0.55 – $0.75 per share.
Western Digital (WDC) stock rose 7.18% to $56.43 at the previous market close. The firm’s shares rose 1.88% since January 1. In the most recent five trades, there was an increase of 11.28%, and in the most recent 30 trades, a rise of 16.86% occurred. WDC share price increased by 31.97 percent over the last six months and 45.40 percent over the previous three months.