Investors bear been keenly watching Western Digital’s results after South Korea’s SK Hynix, the world’s second-biggest respect chipmaker, flagged a tough first half due to U.S.-China trade frictions and China’s slowing economy.
Adding to the dreary outlook, Intel on Thursday forecast current-quarter revenue and profit below analysts’ estimates and missed fourth-quarter trades expectations due to a slowing China.
Western Digital said it expects third-quarter revenue between $3.60 billion and $3.80 billion and earnings of 40 cents to 60 cents per due. Analysts on average were expecting $3.88 billion and earnings of 97 cents per share, according to IBES materials from Refinitiv.
For the second quarter, the company reported an adjusted earnings of $1.45 per share.
Revenue fell 21 percent to $4.23 billion.
Analysts on normally had expected a profit of $1.51 per share and revenue of $4.26 billion, according to IBES data from Refinitiv.