Western Digital Confirms 4FQ17 Revenue of $4.8 Billion, Up 3% Q/Q

Western Digital Corp. updated its expectations for the fourth fiscal quarter of 2017 and reiterated its non-GAAP earnings forecast of approximately $12 per share for calendar year 2017.

The company now expects fourth quarter revenue of approximately $4.8 billion, non-GAAP gross margin of approximately 41% and non-GAAP earnings per share of $2.85. This compares with the prior outlook provided on April 27 of revenue of approximately $4.8 billion, non-GAAP gross margin of approximately 40% and non-GAAP earnings per share in the range of $2.55 to $2.65.

The better-than-anticipated profitability is being driven by continued good execution and strong demand for the company’s broad portfolio of storage products, particularly for flash-based devices and solutions and the 10TB helium capacity HDDs.

On July 27, after the close of NASDAQ trading, the company will report its full results for the fourth fiscal quarter ending June 30, 2017.

The company’s reiteration of its prior guidance to achieve non-GAAP earnings per share of approximately $12 for the calendar year 2017 is based on its current business outlook, leading product and technology position, and capital structure.