Western Digital's revenue beats on higher hard disk drive shipments

Reuters News
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Posted: Apr 24, 2013 4:34 PM
Western Digital's revenue beats on higher hard disk drive shipments

(Reuters) - Hard disk drive maker Western Digital Corp posted better-than-expected third-quarter revenue, helped by higher demand from enterprise customers.

Net income for the company, which along with Seagate Technology Plc dominates the hard disk drive market, fell to $391 million, or $1.60 per share, from $483 million, or $1.96 per share, a year earlier.

Revenue rose 24 percent to $3.76 billion.

Analysts on average had expected earnings of $1.77 per share on revenue of $3.61 billion, according to Thomson Reuters I/B/E/S.

Hard disk drive shipment rose 36 percent to 60.2 million units.

(Reporting by Supantha Mukherjee in Bangalore; Editing by Maju Samuel)