Western Digital Corp Q2 Loss Decreases, beats estimates

(RTTNews) - Western Digital Corp (WDC) released Loss for second quarter that decreased from the same period last year and beat the Street estimates.

The company's bottom line came in at -$282 million, or -$0.87 per share. This compares with -$446 million, or -$1.40 per share, in last year's second quarter.

Excluding items, Western Digital Corp reported adjusted earnings of -$224 million or -$0.69 per share for the period.

Analysts on average had expected the company to earn -$1.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.6% to $3.03 billion from $3.11 billion last year.

Western Digital Corp earnings at a glance (GAAP) :

-Earnings (Q2): -$282 Mln. vs. -$446 Mln. last year. -EPS (Q2): -$0.87 vs. -$1.40 last year. -Analyst Estimates: -$1.13 -Revenue (Q2): $3.03 Bln vs. $3.11 Bln last year.

-Guidance: Next quarter EPS guidance: (-$0.10) - $0.20 Next quarter revenue guidance: $3.20 - $3.40 Bln