Western Digital jumps after upbeat Q2 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
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