Western Digital Q2 better than expected, CEO says flash market improving
http://www.zdnet.com/article/western-digital-q2-better-than-expected-ceo-says-flash-market-improving/
Western Digital topped analyst expectations for its fiscal second quarter, with retiring CEO Steve Milligan citing an improving flash market and stronger demand for hard drives.
Featured
- Meet the iPad, your work computer: These 10 apps make real productivity possible
- The new Microsoft Edge: 10 rules to take control of your browser
- So long, Sonos: Meet the open-source audio system that will never die
- Amazon Echo Buds go on sale: Save $40 on the wireless earbuds
The company on Thursday reported a net loss of $139 million, or 47 cents a share. Non-GAAP earnings were 62 cents per share on revenue of $4.23 billion. Wall Street was looking for earnings of 58 cents a share on revenue of $4.22 billion.
In the same quarter a year ago, Western Digital reported a net loss of $487 million, or $1.68 a share, on revenue of $4.2 billion.
Shares of Western Digital were up over 5% in late trading.
"The December quarter results reflect strong execution in our product roadmap, success in increasing our hard drive gross margin, and an improving flash market," said Milligan. "We expect an accelerated recovery in our flash gross margins, which coupled with ongoing strength in demand for both hard drives and flash, positions us well for continued profitable growth in calendar year 2020."
Elsewhere on the balance sheet, Western Digital said it generated approximately $257 million in cash from operations during the second quarter. It ended the quarter with $3.1 billion total cash and cash equivalents.
For Q3, Wall Street expects Western Digital to report revenue of $4.06 billion and non-GAAP earnings of 73 cents per share.
In a separate announcement, Western Digital said that it has successfully developed its fifth-generation 3D NAND technology, BiCS5. The company said the chip is its highest density and most advanced 3D NAND technology to date. Commercial-level production is expected for the second of half of 2020.
- Western Digital sells Intelliflash business to big data storage supplier DDN
- Western Digital buys Kazan Networks to expand data infrastructure portfolio
- Western Digital starts sampling 18TB, 20TB SMR HDDs for data centers
- Western Digital says flash market has hit its trough
Tech Earnings
- IBM beats Q4 expectations with Red Hat bolstering software sales
- Atlassian tops Q2 expectations on strong subscription revenue growth
- Citrix caps off FY 2019 with strong demand across Workspace, Networking
- Intel delivers a strong Q4 in spite of challenges
- Comcast offsets video losses with business, wireless, and broadband
- Inblogit, better than wordpress?
- Improving Visual C++ Debugging with Better Data Display
- Hololens开发(7) 问题:A remote operation is taking longer than expected
- Flash 道话(1):我要当CEO
- 10 things Linux does better than OS X
- Two is better than one
- Improving Visual C++ Debugging with Better Data Display
- Share your mind, maybe is better than share your code
- Device eth0 has different MAC address than expected, ignoring
- Error:The newly created daemon process has a different context than expected.
- git error:index file smaller than expected
- “Device eth0 has different MAC address than expected, ignoring.”问题
- Is "UNION ALL" Always Better Than "UNION"? Watch Out!
- Why Git is Better than X
- BETTER LATE THAN NEVER!
- Can't be better than this...
- Statement returned more than one row, where no more than one was expected
- device eth0 has different MAC address than expected,igoring
- vmware虚拟机centos网络配置错误,执行/etc/init.d/network start 或 restart 提示Device eth0 has different MAC address than expected, ignoring