Western Digital (WDC) Misses Q3 EPS by 29c, Revenues Miss
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Western Digital Announces Financial Results for Third Quarter Fiscal Year 2019
April 29, 2019 4:05 PM EDTSAN JOSE, Calif.--(BUSINESS WIRE)-- Western Digital Corp. (NASDAQ: WDC) today reported revenue of $3.7 billion for its third fiscal quarter ended March29, 2019. The operating loss was $394 million with a net loss of $581 million, or ($1.99) per share. Excluding certain non-GAAP adjustments, the company achieved non-GAAP operating income of $186 million and non-GAAP net income of $49 million, or $0.17 per share. Both the GAAP and non-GAAP results include lower of cost or market inventory charges of approximately $110 million in cost of revenue, primarily related to certain flash memory products that contain DRAM components.
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