Western Digital, (WDC) – Get Report the maker of computer-storage units, swung to fiscal-next-quarter web profits from a calendar year-earlier net reduction on 6.9% lessen income.
Equally figures ended up stronger than Wall Road analysts had envisioned.
At previous look at Western Digital shares ended up 10% larger at $58. They’d completed the standard Thursday buying and selling session down 1% at $52.65.
For the quarter ended Jan. 1, the San Jose, Calif., firm acquired 20 cents a share, in comparison with a reduction of 47 cents in the calendar year-before quarter. The most current altered earnings were 69 cents a share.
Earnings fell to $3.94 billion from $4.23 billion.
A survey of analysts by FactSet made consensus estimates for the quarter of a GAAP net loss of 20 cents a share, or an adjusted revenue of 54 cents, on income of $3.88 billion.
“During the quarter, we captured energy in the retail organization and also shipped on our goal outcome to finish qualification of our vitality-assisted tough drives and 2nd-generation company [solid-state drive] solutions with some of the world’s greatest information heart operators,” Chief Executive David Goeckeler reported in a assertion.
“When there is nevertheless a lot more function to be finished, we continue to be really centered on conference the needs of our shoppers and ramping our upcoming-era goods all through calendar 2021.”
For the fiscal third quarter, Western Digital estimates altered earnings of 55 cents to 75 cents a share on revenue ranging $3.85 billion to $4.05 billion.
The FactSet study is contacting for adjusted revenue of 63 cents a share on profits of $3.86 billion.