Western Digital Corp Q3 Profit Increases, Beats Estimates

(RTTNews) - Western Digital Corp (WDC) reported earnings for its third quarter that Increased from the same period last year and beat the Street estimates.

The company's earnings totaled $1.182 billion, or $3.07 per share. This compares with $153 million, or $0.42 per share, last year.

Excluding items, Western Digital Corp reported adjusted earnings of $673 million or $1.78 per share for the period.

Analysts on average had expected the company to earn $1.58 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 27.4% to $2.818 billion from $2.212 billion last year.

Western Digital Corp earnings at a glance (GAAP) :

-Earnings: $1.182 Bln. vs. $153 Mln. last year. -EPS: $3.07 vs. $0.42 last year. -Revenue: $2.818 Bln vs. $2.212 Bln last year.

-Guidance: Next quarter EPS guidance: $1.88 +/- $0.15 Next quarter revenue guidance: $2.9B +/- $100M