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Western Digital expects quarterly revenue above estimates on strong storage demand
['Thu', 'January At Pm Gmt', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Jan 29 (Reuters) - Western Digital forecast third-quarter revenue above Wall Street estimates on Thursday, signaling that demand for its hard drives and flash storage for AI servers would continue to drive growth.
Western Digital expects third-quarter adjusted revenue of $3.2 billion, plus or minus $100 million, compared with analysts' estimate of $2.96 billion, according to data compiled by LSEG.
Western Digital's second-quarter revenue came in at $3.02 billion, compared with the analysts' average expectation of $2.92 billion.
Meanwhile, memory storage firm Sandisk also beat Wall Street expectations for second-quarter revenue on Thursday, sending its shares up around 12% in extended trading.
Sandisk reported second-quarter revenue of $3.03 billion, compared with estimates of $2.64 billion.