Tech content trusted by users in North America and around the world
7,247 Reviews & Articles | 52,576 News Posts

Western Digital Announces Financial Results For Second Quarter Fiscal 2016

Posted: Jan 30, 2016 4:40 am | Business, Financial & Legal Press Releases | Stock Ticker: NASDAQ:WDC, NASDAQ:NDAQ

Western Digital Corp. (NASDAQ: WDC) today reported revenue of $3.3 billion and net income of $251 million, or $1.07 per share, for its second fiscal quarter ended Jan. 1, 2016. On a non-GAAP basis, net income was $374 million, or $1.60 per share. In the year-ago quarter, the company reported revenue of $3.9 billion and net income of $438 million, or $1.84 per share. Non-GAAP net income in the year-ago quarter was $539 million, or $2.26 per share.


The company generated $598 million in cash from operations during the second fiscal quarter, ending with total cash and cash equivalents of $5.4 billion. On Nov. 3, 2015 the company declared a cash dividend of $0.50 per share of its common stock, which was paid on Jan. 15, 2016.


"We continue to execute well as we manage our business within an increasingly challenging global economic environment," said Steve Milligan, chief executive officer. "Despite a lower-than-expected hard drive total available market, we reported revenue and EPS within our guidance range, with non-GAAP gross margin of 28.5 percent. We also had strong free cash flow performance of $449 million. Our storage shipments for the December quarter grew to 69.1 exabytes."

Related Tags

Got an opinion? Post a comment below!
Subscribe to our Newsletter

Latest News Posts

View More News Posts
View Our Latest Videos

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases