Western Digital (WDC) Misses Q3 EPS by 8c, Revs Beat
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Western Digital Reports Fiscal Third Quarter 2020 Financial Results
April 30, 2020 4:01 PM EDTNews Summary
Third quarter revenue was $4.2 billion, up 14% year-over-year (YoY). Data Center Devices and Solutions revenue grew 22%, Client Devices grew 13%, and Client Solutions grew 2% YoY. Third quarter GAAP earnings-per-share (EPS) was $0.06 and non-GAAP EPS was $0.85. Both GAAP and non-GAAP EPS include $13 million cost of revenue impact due to COVID-19. Generated operating cash flow of $142 million and free cash flow of $176 million. Suspending our dividend to strengthen our reinvestment in growth and innovation and to support our ongoing deleveraging efforts. Expecting fourth quarter revenue to be in the range of $4.25 to... More