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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.

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From: Sam	4/30/2020 4:24:00 PM
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Western Digital reports revenue beat, suspends dividend Apr. 30, 2020 4:18 PM ET\|About: Western Digital Corporation (WDC)\|By: Brandy Betz, SA News Editor Western Digital (NASDAQ: WDC) falls 5.3% after reporting a FQ3 revenue beat and EPS miss for the period ending on March 29, which featured little coronavirus damage. Coronavirus impact: Notebook solutions had greater than expected demand due to the remote work shift, which brought desktop solutions down. Smart video hard drive demand was also down. Mobile flash bit shipments remained "modest." Q3 revenue breakdown: Client Devices, $1.8B (+13% Y/Y); Data Center, $1.5B (+22%); Client Solutions, $821M (+2%). Operating cash flow totaled $142M with FCF of $176M. WDC ended the quarter with $2.9B in cash and equivalents. WDC is suspending its dividend to improve its leverage ratios. Q4 guidance sees revenue of $4.2-4.5B (consensus: $4.3B) and EPS of $1-1.40 (consensus: $1.22). Earnings call starts at 4:30 PM with a webcast here. seekingalpha.com The stock bid-ask is down to 42.20-42.38 at the moment AH but it is bouncing around a lot. The CC is about to start.

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