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Western Digital: Fiscal Q4 Earnings Snapshot

August 5, 2022 GMT

SAN JOSE, Calif. (AP) _ Western Digital Corp. (WDC) on Friday reported fiscal fourth-quarter profit of $301 million.

On a per-share basis, the San Jose, California-based company said it had profit of 95 cents. Earnings, adjusted for one-time gains and costs, were $1.78 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.

The maker of hard drives for businesses and personal computers posted revenue of $4.53 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $4.61 billion.

For the year, the company reported profit of $1.5 billion, or $4.75 per share. Revenue was reported as $18.79 billion.

For the current quarter ending in October, Western Digital expects its per-share earnings to range from 35 cents to 65 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.

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The company said it expects revenue in the range of $3.6 billion to $3.8 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $4.76 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WDC at https://www.zacks.com/ap/WDC