How did WDC's Q3 2024 earnings surprise impact its stock?

Western Digital's (WDC) Q3 2024 earnings surprise had a positive impact on its stock, although the effect was relatively modest. The company reported an earnings per share (EPS) surprise of $0.07, which was a positive sign indicating that the actual earnings were higher than expected. This news likely contributed to the stock's performance, as investors tend to favor companies that exceed expectations. However, it's important to note that the stock's percentage change on the next day was only 2.19%, which suggests that while the earnings surprise was appreciated by the market, it may not have been a catalyst for a significant price movement. Other factors, such as market conditions and investor sentiment, also play a role in determining stock prices.