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Western Digital profit misses consensus by 44.0% in fiscal Q2

Western Digital Corp. said its normalized net income for the fiscal second quarter ended Jan. 1 was 86 cents per share, compared with the S&P Capital IQ consensus estimate of $1.54 per share.

EPS declined 35.8% year over year from $1.34.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $201.9 million, a decline of 36.9% from $320.0 million in the prior-year period.

The normalized profit margin dropped to 5.1% from 8.2% in the year-earlier period.

Total revenue declined 14.7% on an annual basis to $3.32 billion from $3.89 billion, and total operating expenses fell 11.3% from the prior-year period to $2.99 billion from $3.37 billion.

Reported net income fell 42.8% from the prior-year period to $250.4 million, or $1.07 per share, from $437.9 million, or $1.84 per share.