For the fiscal 2022 second quarter ending Dec. 31, the company predicted adjusted profit of $1.95 to $2.25 a share on revenue of $4.7 billion to $4.9 billion.
That compares with the FactSet analyst consensus of $2.67 a share and $5.28 billion.
The stock recently traded at $52.82, down 7.8%. It has slumped 26% over the past six months amid the semiconductor shortage.
For the fiscal 2022 first quarter ended Sept. 30, Western Digital's net income registered $610 million, or $1.93 a share, swinging from a loss of $60 million, or 20 cents a share, a year earlier.
Adjusted profit hit $2.49 a share, nearly quadruple the 65 cents of a year earlier and above the analyst estimate of $2.45 a share.
Revenue of $5.05 billion climbed 29% from $3.92 billion a year earlier. Analysts anticipated $5.06 billion for the latest quarter.
“Strong demand across diverse end markets, particularly for our cloud products" underlie the results, "even in the face of significant Covid impacts and supply-chain disruptions,” Chief Executive David Goeckeler said in a statement.
Morningstar analyst William Kerwin also was upbeat. “We are maintaining our $70 fair-value estimate for no-moat Western Digital,” he wrote Friday.
“The quarter showed continued progress on the company pivoting to the cloud, and reflected profitability benefits from a tight supply environment.”