Home > Latest News > Western Digital Reports Profit As Cloud Computing Drives Demand

Western Digital Reports Profit As Cloud Computing Drives Demand

Western Digital office in Milpitas (Image: Sourced from Wikipedia)

Western Digital has beat analysts’ estimates as it reported a profit of $493 million (A$746.34 million), or $1.35 (A$2.04) a share, for the fiscal first quarter ended September 27, compared with a loss of $700 million (A$1.05 billion), or $2.17 (A$3.29) a share in the same period last year.

The earnings report sent its shares up nearly 5 per cent at the end of last week compared to close of trade on Wednesday.

The company’s profit climbed mainly on demand for its data-storage products from cloud service providers.

Earlier this month, it confirmed that its enterprise SSD memory storage device has been certified to support Nvidia’s AI server system.

Revenue from the cloud market climbed 17 per cent to $2.21 billion (A$3.35 billion) sequentially.

 

Its first-quarter revenue was $4.10 billion (A$6.21 billion), compared with an estimate of $4.12 billion (A$6.24 billion).

For the current quarter, Western Digital expects revenue between $4.2 billion (A$6.36 billion) and $4.4 billion (A$6.66 billion), and adjusted per-share earnings between $1.75 (A$2.65) and $2.05 (A$3.10).

“With the continued proliferation of the AI Data Cycle, our Flash and HDD product portfolios are well-positioned to capitalise on significant opportunities as adoption continues to grow,” said CEO David Goeckeler.

This month, the company announced the shipment of  Ultrastar DC HC690, the world’s highest-capacity UltraSMR HDD with storage of up to 32TB.

Alongside, it began dispatching a high-capacity ePMR CMR HDD offering up to 26TB that is aimed at enterprise and channel customers seeking drop-in capacity upgrades.



You may also like
SanDisk Western Digital
SanDisk Unveils World’s First 8TB SD Card
Western Digital Introduces New High-Performance Mobile Gaming Drive
Western Digital Shares Plunge As Kioxia Deal Falls Apart
Western Digital Unveils New V60-Rated Memory Card
Western Digital & Japan’s Kioxia Tipped To Merge

Popular Posts

Troy Hincho Gets GM Role At Residentia
Latest News
/
/
Gift From Gandy: UK Hi-Fi Legend Hands Company To Workers
Latest News
/
/
Coles AI Smart Trolley
Coles To Trial AI-Powered Shopping Trolleys
Latest News
/
/
Logitech’s Plan To Alleviate Meeting Room Chaos
Latest News
/
/
Is Qantas Seriously ‘Fleecing’ The Technology Industry
Latest News
/
/

Digital Magazines

Recent Post

Troy Hincho Gets GM Role At Residentia
Latest News
/
//
Comments are Off
Residentia Group has promoted general manager of sales and marketing, Troy Hinchco (below) to general manager of Australia, following the...
Read More