Western Digital: Fiscal Q1 Earnings Snapshot

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Western Digital Corp. (WDC) on Monday reported a loss of $685 million in its fiscal first quarter.

On a per-share basis, the San Jose, California-based company said it had a loss of $2.17. Losses, adjusted for one-time gains and costs, were $1.76 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.88 per share.

The maker of hard drives for businesses and personal computers posted revenue of $2.75 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.67 billion.

For the current quarter ending in December, Western Digital expects its results to range from a loss of $1.35 per share to a loss of $1.05 per share. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.

The company said it expects revenue in the range of $2.85 billion to $3.05 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $4.76 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WDC at https://www.zacks.com/ap/WDC