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Western Digital profit misses consensus by 40.8% in fiscal Q2

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Western Digital profit misses consensus by 40.8% in fiscal Q2

Western Digital Corp. said its normalized net income for the fiscal second quarter ended Jan. 2 was $1.25 per share, compared with the S&P Capital IQ consensus estimate of $2.11 per share.

EPS declined year over year from $1.29.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $296.9 million, a decrease of 5.6% from $314.4 million in the second quarter ended Dec. 27, 2013.

The normalized profit margin increased to 8.2% from 7.9% in the year-earlier period.

Total revenue decreased on an annual basis to $3.89 billion from $3.97 billion, and total operating expenses decreased from the prior-year period to $3.40 billion from $3.46 billion.

Reported net income rose year over year to $437.9 million, or $1.84 per share, from $430.1 million, or $1.77 per share.