Western Digital Q3 Results Miss Estimates

(RTTNews) - Hard-drive maker Western Digital Corp. (WDC) reported net income for the third quarter of $384 million or $1.63 per share, compared to $375 million or $1.55 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $441 million or $1.87 per share, compared to $470 million or $1.94 per share in the prior year quarter.

Revenue for the third quarter fell to $3.55 billion from $3.70 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $1.89 per share on revenue of $3.60 billion for the third quarter. Analysts' estimates typically exclude special items.