Western digital Corp stock rises in 3rd quarter earnings

Western digital Corp (Nasdaq:WDC) introduced its latest quarterly results that came in ahead of wall Street consensus estimate.

The company reported that for the fiscal third quarter, he brought a profit of $3.63 per share, which was better than the $3.31 per share that analysts surveyed by zacks investment research was. Its net income calculated during the period to $1.1 billion, and operating income according to GAAP amounted to 914 million dollars.

Western digital Corp. has added that her company an estimated $ 5 billion for the third quarter, exceeding the zacks consensus of $ 4.94 billion. This figure also amounted to about 7.5% compared with a year ago, according to the company.

The company also generated $1 billion in cash from operations during the quarter ending in the period from 5.1 billion dollars in cash and cash equivalents, available-for-sale securities. Western digital Corp. has added that it has declared a cash dividend of 50 cents a share.

“The power and flexibility of our platform and constant attention of our global team on operational execution drove another quarter of strong financial performance for Western digital,” said Steve Milligan, CEO. “We saw particular strength in our capacity enterprise hard drives, which have reached record quarterly revenues”.

The shares of WDC was about 1.8 percent after the bell on Thursday.

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