The hard disk drive and memory chip maker saw record revenue of $5.3 billion, thanks to solid demand for enterprise and NAND based products.
@WesternDigital reported its second quarter financial results on Thursday, beating market expectations thanks to a “healthy” demand in enterprise storage and #NAND #flash. The company reported a net loss of $823 million, or $2.78 a share. Non-GAAP earnings were $3.95 per share on revenue of $5.3 billion, up from $4.9 billion from a year ago. The company said the net loss was due to a $1.6 billion repatriation tax as a result of the Tax Cuts and Jobs Act. Wall Street was looking for earnings of $3.79 a share on revenue of $5.29 billion.