Western Digital Q3 Beat, Stock Down 6%

Western Digital posted Q3 adjusted EPS $2.72 beating consensus $2.36 and revenue $3.34B up 45% YoY, surpassing $3.23B estimate.
Adjusted gross margin rose to 50.5% from 40.1% YoY; operating cash flow $1.12B and free cash flow $978M.
Company announced 20% dividend increase to $0.15 per share and Q4 guidance of $3.55‑$3.75B revenue, $3.10‑$3.40 EPS.
Despite beat, shares fell 6% after hours, though they had risen 5.27% intraday and 60% over the month.