Western Digital Corp Q3 Profit Decreases, but beats estimates

(RTTNews) - Western Digital Corp (WDC) revealed a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $25 million, or $0.08 per share. This compares with $197 million, or $0.63 per share, in last year's third quarter.

Excluding items, Western Digital Corp reported adjusted earnings of $521 million or $1.65 per share for the period.

Analysts on average had expected the company to earn $1.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.1% to $4.38 billion from $4.13 billion last year.

Western Digital Corp earnings at a glance (GAAP) :

-Earnings (Q3): $25 Mln. vs. $197 Mln. last year. -EPS (Q3): $0.08 vs. $0.63 last year. -Analyst Estimates: $1.42 -Revenue (Q3): $4.38 Bln vs. $4.13 Bln last year.

-Guidance: Next quarter EPS guidance: $4.50-$4.70 Bln