SAN JOSE, Calif. — Western Digital Corp. (WDC) reported a loss of $268 million in the second quarter of its fiscal year. The San Jose, California-based company stated that the loss amounted to 87 cents per share. After adjusting for one-time gains and expenses, the loss came in at 69 cents per share.
For comparison, the average expectations of five analysts surveyed by Zacks Investment Research projected a loss of $1.13 per share.
The results surpassed Wall Street’s expectations. The average estimates of five analysts surveyed by Zacks Investment Research predicted a loss of $1.13 per share.
The hard disk drive manufacturer for businesses and personal computers generated revenue of $3.03 billion in the reporting period, exceeding street forecasts. Four analysts surveyed by Zacks had expected revenue of $2.99 billion.
For the current quarter ending in March, Western Digital expects its results to range from a loss of 10 cents per share to a profit of 20 cents per share.
The company projects revenues of $3.2 billion to $3.4 billion in the third quarter of the fiscal year.
The article is based on data provided by Automated Insights (http://automatedinsights.com/ap) using information from Zacks Investment Research. You can find the report on Western Digital stocks at https://www.zacks.com/ap/WDC.
QUESTIONS AND ANSWERS:
1. What loss did Western Digital Corp. report in the second quarter of its fiscal year?
Western Digital Corp. reported a loss of $268 million.
2. What was the loss per share?
The loss amounted to 87 cents per share. After adjusting for one-time gains and expenses, the loss came in at 69 cents per share.
3. Did the results beat Wall Street’s expectations?
Yes, the results exceeded Wall Street’s expectations.
4. What was the expected loss per share?
The average expectations of five analysts projected a loss of $1.13 per share.
5. What was the revenue generated in the reporting period?
The revenue amounted to $3.03 billion, surpassing street forecasts.
6. What are the forecasts for the current quarter?
Western Digital expects its results to range from a loss of 10 cents per share to a profit of 20 cents per share.
7. What is the projected revenue range for the third quarter of the fiscal year?
The projected revenue range is $3.2 billion to $3.4 billion.
DEFINITIONS:
– Analysts: Professionals who analyze, forecast, and evaluate financial and economic data.
– Zacks Investment Research: A firm that provides market information and analysis for investors.
– Fiscal Year: A 12-month period in which a company prepares its financial statements.
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– Zacks Investment Research: Zacks Investment Research provides market analysis and information for investors.
The source of the article is from the blog girabetim.com.br