From Barrons: >WD posted December quarter sales that edged Wall Street estimates, and provided better-than-expected guidance for the March quarter—but the disk-drive and flash memory chip company’s shares nonetheless were falling in late trading.
For the quarter, Western Digital posted revenue of $3.03 billion, down 2% from the year-earlier quarter, but up 10% from the September quarter, at the high end of the company’s guidance range of $2.85 billion to $3.05 billion, and ahead of consensus at $3 billion.
On an adjusted basis, the company lost 69 cents a share in the fiscal second quarter; guidance had called for a loss of between $1.05 and $1.35 a share. Under generally accepted accounting principles, or GAAP, the company lost $87 cents a share.
Flash memory revenue was $1.67 billion, up from $1.66 billion in the year-earlier quarter. Hard disk drive revenue was $1.37 billion, ahead of the Street consensus forecast at $1.2 billion.