Western Digital Corp Q4 adjusted earnings Beat Estimates

(RTTNews) - Western Digital Corp (WDC) released a profit for its fourth quarter that increased from the same period last year.

The company's profit came in at $622 million, or $1.97 per share. This compares with $158 million, or $0.49 per share, in last year's fourth quarter.

Excluding items, Western Digital Corp reported adjusted earnings of $680 million or $2.16 per share for the period.

Analysts had expected the company to earn $1.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.7% to $4.92 billion from $4.29 billion last year.

Western Digital Corp earnings at a glance:

-Earnings (Q4): $680 Mln. vs. $369 Mln. last year. -EPS (Q4): $2.16 vs. $1.23 last year. -Analysts Estimate: $1.49 -Revenue (Q4): $4.92 Bln vs. $4.29 Bln last year.

-Guidance: Next quarter EPS guidance: $2.25 - $2.55 Next quarter revenue guidance: $4.90 - $5.10