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Western Digital profit rises 28%

Published on Jan 23, 2014 6:25 AM

(REUTERS) - Western Digital Corp, the world's No. 1 hard-disk drive maker, reported a quarterly profit that beat Wall Street estimates, helped by sales of higher-margin data storage products to enterprise customers and gaming console makers.

Net income rose to US$430 million (S$549 million), or US$1.77 per share, in the second quarter ended Dec 27 from US$335 million, or US$1.36 per share, a year earlier.

Excluding items, the company earned US$2.19 per share beating analysts' expectations of US$2.08 per share.

Revenue rose 4 per cent to US$3.97 billion. Analysts' on average were expecting revenue of US$3.85 billion, according to Thomson Reuters I/B/E/S.