Western Digital: Fiscal Q3 Earnings Snapshot

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Western Digital Corp. (WDC) on Thursday reported fiscal third-quarter profit of $135 million.

On a per-share basis, the San Jose, California-based company said it had net income of 34 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 63 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The maker of hard drives for businesses and personal computers posted revenue of $3.46 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $3.33 billion.

For the current quarter ending in June, Western Digital expects its per-share earnings to range from 90 cents to $1.20.

The company said it expects revenue in the range of $3.6 billion to $3.8 billion for the fiscal fourth quarter.


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

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