Western Digital's quarterly revenue rises 9.2 pct

By Kitco News / January 25, 2018 / www.kitco.com / Article Link

Jan 25 (Reuters) - Western Digital Corp reported a 9.2 percent rise in quarterly revenue on Thursday, as it benefited from healthy NAND pricing and strong demand for its memory chips used in PCs and smartphones.

The company's revenue rose to $5.34 billion in the second quarter ended Dec. 29 from $4.89 billion a year earlier.

The data-storage device maker posted a net loss of $823 million, or $2.78 per share, compared with a profit of $235 million, or 80 cents per share, last year.

That was due to a $1.6 billion charge related to new U.S. tax laws.


(Reporting by Munsif Vengattil and Sonam Rai in Bengaluru; Editing by Savio D'Souza)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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