Western Digital plummets after missing on revenue

KEY POINTS

• The computer company reported $5.03 billion on revenue, while analysts predicted $5.14 billion.
• The company matched earnings per share however, coming in at $3.04 a share. 
• Shares are down 35.7 percent year-to-date. 

The hard drive assembly line at Western Digital.

Shepard Sherbell | Corbis | Getty Images

Western Digital shares fell as much as 10 percent during after-hours trading on Thursday after the company missed analysts' expectations on revenue.

The computer company reported $5.03 billion on revenue, while analysts predicted $5.14 billion. The company matched earnings per share however, coming in at $3.04 a share.

In August, analyst Karl Ackerman lowered Western Digital's price target to $70 from $100 and the firm Cowen downgraded it to market perform from outperform, as competitors slash memory hard drive prices.

Shares are down 35.7 percent year-to-date.

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