SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Western Digital Corp. (WDC) on Monday reported a loss of $572 million in its fiscal third quarter.
The San Jose, California-based company said it had a loss of $1.82 per share. Losses, adjusted for one-time gains and costs, came to $1.37 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.55 per share.
The maker of hard drives for businesses and personal computers posted revenue of $2.8 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $2.76 billion.
For the current quarter ending in June, Western Digital expects its results to range from a loss of $2.20 per share to a loss of $1.90 per share. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.
The company said it expects revenue in the range of $2.4 billion to $2.6 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $4.76 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WDC at https://www.zacks.com/ap/WDC
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
