Western Digital Rises After Q3 Results
Hard-drive maker Western Digital (NYSE: WDC) released its fiscal third-quarter earnings results after the closing bell on Wednesday.
The company topped Wall Street earnings and revenue expectations and the stock was last trading up around four percent to $54.80 in the after-hours.
Western Digital reported net income of $391 million or $1.60 per share, compared to $483 million or $1.96 per share, in last year's third-quarter.
On an adjusted basis, the company earned $514 million or $2.10 per share, versus $610 million or $2.52 per share last year. This easily topped Wall Street EPS estimates of $1.77.
Revenue in the quarter was $3.76 billion from $3.04 billion last year. This also exceeded consensus expectations of $3.61 billion in sales.
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