Western Digital beats by $0.01, misses on revs; ongoing declines in flash pricing
- Reports Q1 (Sep) earnings of $3.04 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $3.03 and vs prior guidance of $3.00-3.10; revenues fell 3.0% year/year to $5.03 bln vs the $5.14 bln S&P Capital IQ Consensus and vs prior guidance of $5.10-5.20 bln.
- Co says SepQ results reflected strength in capacity enterprise, surveillance hard drives and embedded flash solutions, with each growing revenue over 30%.
- However, strength in these end markets was offset by ongoing declines in flash pricing. A more challenging global business environment and the corresponding economic impacts are contributing to a more conservative demand outlook for its products. In response to these conditions, co is taking immediate actions to align its flash output with projected demand.
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