BofA/Merrill Lynch Upgrades Western Digital Corp. (WDC) to Neutral
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Western Digital Announces Financial Results for First Fiscal Quarter 2017
October 26, 2016 4:16 PM EDTIRVINE, Calif.--(BUSINESS WIRE)-- Western Digital Corp. (NASDAQ: WDC) today reported revenue of $4.7 billion, operating income of $232 million and a net loss of $366 million, or $1.28 per share, for its first fiscal quarter ended Sept. 30, 2016. The GAAP net loss for the period includes charges associated with the companys recent acquisitions and debt extinguishment charges related to its repricing and repayment of outstanding debt. Excluding these charges and other non-GAAP adjustments, first quarter non-GAAP operating income was $632 million and non-GAAP net income was $341 million, or $1.18 per share.
In the year-ago quarter, the company reported... More
