Western Digital beats by $0.13, beats on revs :
- Reports Q1 (Sep) earnings of $1.18 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus of $1.05 and above prior guidance of $1.00-1.05; revenues rose 40.3% year/year to $4.71 bln vs the $4.52 bln Capital IQ Consensus and vs prior guidance of $4.45-4.55 bln.
- "We are pleased with our performance in [SepQ], the first full quarter as an integrated company following the SanDisk acquisition in May."
- "Demand for both hard drive and flash-based products was strong across all customer categories, driven by cloud and mobile applications, as well as better-than-expected PC market trends. We are encouraged by the uniformly positive response to the new Western Digital platform from our broadened customer base."
- "We are on track to achieve our synergy goals associated with these integrations and our transition to 3D NAND continues to progress as planned."
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