Western Digital Corp Q1 Profit Decreases, misses estimates

(RTTNews) - Western Digital Corp (WDC) reported earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $27 million, or $0.08 per share. This compares with $610 million, or $1.93 per share, in last year's first quarter.

Excluding items, Western Digital Corp reported adjusted earnings of $64 million or $0.20 per share for the period.

Analysts on average had expected the company to earn $0.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 26.0% to $3.736 billion from $5.051 billion last year.

Western Digital Corp earnings at a glance (GAAP) :

-Earnings (Q1): $27 Mln. vs. $610 Mln. last year. -EPS (Q1): $0.08 vs. $1.93 last year. -Analyst Estimates: $0.39 -Revenue (Q1): $3.736 Bln vs. $5.051 Bln last year.

-Guidance: Next quarter EPS guidance: -$0.25 to $0.05 Next quarter revenue guidance: $2.90 Bln-$3.10 Bln