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Thursday, Mar 28, 2024
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WD Earnings, Shares Down

Irvine-based Western Digital Corp. said it earned $283 million on revenue of $3.4 billion in its most recent quarter.

That was down from $423 million in earnings on $3.9 billion in revenue for the same period last year.

Analysts had expected earnings of about $367 million on revenue of $3.3 billion and Western Digital shares were down 2% to a $15.3 billion market cap in after-hours trading.

The memory products maker made waves last week when it said it would buy competitor SanDisk Corp. for about $19 billion.

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