May 3rd, 2018 by Adam Armstrong
Western Digital Reports 3Q18 Earnings
Western Digital reported its earnings for its third fiscal quarter of 2018 that ended March 30, 2018. Overall their numbers were good with great improvements over the same time last year in almost all cases. Western Digital stock was a bit bumpier than its earning reports but potentially making it a good buying opportunity.
Looking at the numbers, the company is reporting revenue of $5 billion up from $4.6 billion the same time last year. WD reported a GAAP operating income of $914 million up form $525 million last year. The company reported a non-GAAP operating income of $1.3 billion up from $1 billion. For net income, WD reported $61 million GAAP ($0.20 per share) down form $248 million ($0.83 per share) this time last year and $1.1 billion ($3.63 per share) non-GAAP up form $716 million ($2.39 per share).
Other good news for Western Digital, they generated $1 billion in cash this quarter, brining total cash, cash equivalents and available-for-sale securities to $5.1 billion. The also have paid the previously declared cash dividend of $0.50 per share of commons stock.