Western Digital CEO Steve Milligan To Retire - Quick Facts

(RTTNews) - Western Digital Corp. (WDC) announced that Steve Milligan plans to retire as CEO. He will continue to serve as CEO until the Board has appointed a successor. The Board has initiated a search to identify next CEO, and has engaged Heidrick & Struggles, to assist in the process.

For the first-quarter, non-GAAP earnings per share was $0.34 compared to $3.04, prior year. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.30, for the quarter. Analysts' estimates typically exclude special items.

First-quarter revenue was $4.0 billion compared to $5.0 billion, a year ago. Analysts expected revenue of $3.93 billion, for the quarter.

For the second quarter of 2020, the company projects: non-GAAP earnings per share in a range of $0.45 - $0.65, and revenue in the range of $4.1 - $4.3 billion. Analysts expect the company to report profit per share of $0.75, on revenue of $4.22 billion.

Shares of Western Digital were down nearly 10% after hours.