Western Digital Corp. (WDC) Tuesday reported fourth-quarter net income of $745 million or $2.87 per share, compared to $158 million or $0.67 per share last year.
Adjusted net income surged to $872 million or $3.35 per share from $193 million or $0.81 per share last year. On average, 20 analysts polled by Thomson Reuters expected earnings of $2.47 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter jumped to $4.75 billion from $2.40 billion last year. Analysts estimated revenues of $4.25 billion for the quarter.
Hard-drive shipments for the quarter rose to 71.0 million from 53.8 million hard drives shipped last year.
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