Western Digital's revenue in Q2 drops 29.4% YoY

Wednesday, 31. July 2019 22:15

Western Digital Corp. announced on Wednesday that its revenue in the fourth fiscal quarter amounted to $3.63 billion, 29.4% less on an annual basis. Within the same timeframe, the company recorded a $197 million net loss, which reflected in $0.67 loss per diluted common share. Last year's fourth-quarter income per share stood at $2.46.

Adjusted earnings plunged by 95% to $0.17 per share, while the company generated $169 million in cash from operations during the fourth fiscal quarter of 2019. The American hard disk manufacturer also announced that its total operating expenses compared to the same fiscal quarter ending in June were decreased by 16%.

"We ended a challenging fiscal 2019 with leadership positions in capacity enterprise hard drives, 3D flash technology, and branded retail products while achieving significant gains in client solid-state drives. Momentum for our NVMe enterprise solid-state drives is picking up, setting the stage for further gains across our portfolio in the new fiscal year and beyond," Western Digital CEO Steve Milligan said in a statement.

Related Links: Western Digital Corp.
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Breaking the News / MA