Irvine-based storage products maker Western Digital Corp. after the close of intraday trading Tuesday reported March revenue and adjusted profits that narrowly missed Wall Street expectations.
The world’s largest disk drive maker posted sales of $3.5 billion in the recently ended quarter, down 5.7% from a year earlier.
Analysts on average had forecasted revenue of $3.6 billion.
Adjusted profits topped $441 million, or $1.87 per share, down 6.1% from a year ago.
Wall Street was looking for $1.89 per share.
The company said it sold 54.5 million hard-drive units, compared to 61 million units shipped in the December quarter.
Hard drives use spinning disks to store data, unlike the company’s growing line of solid-state drives, which use chips.
Western Digital’s disk drives go into computers, external storage devices, corporate networks and consumer electronics, such as laptops.
Cupertino rival Seagate Technology Inc. reported earlier this month that it sold 50.1 million hard drives in the March quarter, down from 56.9 million units in the December quarter.
Western Digital shares are down about 1.7% in midday trading Wednesday, to a market value of about $22.2 billion.
