Western Digital Corp Q1 Profit Drops 27%

(RTTNews) - Western Digital Corp (WDC) released earnings for first quarter that declined compared to the same period last year.

The company said its bottom line totaled $366 million, or $1.56 per share. This was down from $504 million, or $2.10 per share, in last year's first quarter.

Analysts had expected the company to earn $1.56 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 14.7% to $3.36 billion. This was down from $3.94 billion last year.

Western Digital Corp earnings at a glance:

-Earnings (Q1): $366 Mln. vs. $504 Mln. last year. -Earnings Decline (Y-o-Y): -27.4% -EPS (Q1): $1.56 vs. $2.10 last year. -EPS Decline (Y-o-Y): -25.7% -Analysts Estimate: $1.56 -Revenue (Q1): $3.36 Bln vs. $3.94 Bln last year. -Revenue Change (Y-o-Y): -14.7%