Western Digital: Fiscal Q4 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Western Digital Corp. (WDC) on Monday reported a loss of $715 million in its fiscal fourth quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of $2.27. Losses, adjusted for one-time gains and costs, came to $1.98 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $2 per share.
The maker of hard drives for businesses and personal computers posted revenue of $2.67 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $2.51 billion.
For the year, the company reported a loss of $1.71 billion, or $5.44 per share. Revenue was reported as $12.32 billion.
For the current quarter ending in September, Western Digital expects its results to range from a loss of $2.10 per share to a loss of $1.80 per share. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.
The company said it expects revenue in the range of $2.55 billion to $2.75 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $4.76 billion.
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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