Western Digital: Fiscal Q4 Earnings Snapshot

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Western Digital Corp. (WDC) on Wednesday reported fiscal fourth-quarter profit of $330 million.

On a per-share basis, the San Jose, California-based company said it had profit of 88 cents. Earnings, adjusted for stock option expense and asset impairment costs, came to $1.44 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.

The maker of hard drives for businesses and personal computers posted revenue of $3.76 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $3.77 billion.

For the year, the company reported a loss of $507 million, or $1.72 per share. Revenue was reported as $13 billion.

For the current quarter ending in September, Western Digital expects its per-share earnings to range from $1.55 to $1.85.

The company said it expects revenue in the range of $4 billion to $4.2 billion for the fiscal first quarter.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WDC at https://www.zacks.com/ap/WDC