Western Digital Tops Fiscal First-Quarter Estimates

Western Digital Corporation  (WDC) – Get Report  beat analyst expectations with its fiscal first-quarter financial report after the bell on Wednesday.

The company reported earnings of 65 cents a share on revenue of $3.9 billion. In the same period a year ago, the company posted earnings of 34 cents a share on sales of $4 billion.

Wall Street had expected the company to report net income of $161.7 million, or 55 cents a share, on sales of $3.8 billion, based on a FactSet survey of 29 analysts.

The company offered guidance of $0.45 – 0.65 a share on Aug. 6. Shares have risen 8.1% since then.

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