Western Digital’s quarterly revenue rises 9.2 percent

Intel reports 4.1 percent rise in fourth-quarter revenue
January 25, 2018
Western Digital’s revenue growth slightly tops estimates
January 25, 2018
This post was originally published on this site

(Reuters) – Western Digital Corp (WDC.O) 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