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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Western Digital Corporation | NASDAQ:WDC | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.40 | -1.93% | 71.20 | 70.50 | 71.60 | 72.7681 | 71.27 | 72.28 | 3,932,658 | 01:00:00 |
From May 2019 to May 2024
Western Digital Corp. said it swung to a loss in the latest quarter as the disk-drive maker was hit by charges related to its acquisition of SanDisk and other items.
The company's adjusted per-share earnings, which exclude such items, and revenue beat expectations.
Western Digital's acquisition of SanDisk in May expanded its portfolio of hard-drive and flash-storage products. With the acquisition, Western Digital previously has said it is aiming to capture a bigger share of the global data center, client device and client-solution markets.
For the period ended Sept. 30, Western Digital reported a loss of $366 million, or $1.28 a share, compared with a year-earlier profit of $283 million, or $1.21 a share. Excluding items, adjusted per-share earnings fell to $1.18 from $1.56. Revenue increased 40% to $4.71 billion.
The company expected per-share profit of $1 to $1.05 and revenue of $4.45 billion to $4.55 billion.
Shares fell 1.6% to $55.60 in recent after-hours trading Wednesday.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
October 26, 2016 18:15 ET (22:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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