Western Digital (WDC Quick QuoteWDC - Free Report) reported $3.76 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 40.9%. EPS of $1.44 for the same period compares to -$1.98 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $3.77 billion, representing a surprise of -0.18%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being $1.26.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Western Digital performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net Revenue- Flash

  : $1.76 billion versus the two-analyst average estimate of $1.88 billion. The reported number represents a year-over-year change of +27.9%.

• Net Revenue- HDD

  : $2 billion versus the two-analyst average estimate of $1.83 billion. The reported number represents a year-over-year change of +54.7%.

• Gross profit- HDD

  : $724 million versus the two-analyst average estimate of $585.37 million.

• Gross profit- Flash

  : $642 million versus the two-analyst average estimate of $657.74 million.

View all Key Company Metrics for Western Digital here>>>

Shares of Western Digital have returned -19.1% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.