Western Digital Swings to Loss

Western Digital Corp. said it swung to a loss in the latest quarter as the disk-drive maker was hit by charges related to its acquisition of SanDisk and other items.

The company's adjusted per-share earnings, which exclude such items, and revenue beat expectations.

Western Digital's acquisition of SanDisk in May expanded its portfolio of hard-drive and flash-storage products. With the acquisition, Western Digital previously has said it is aiming to capture a bigger share of the global data center, client device and client-solution markets.

For the period ended Sept. 30, Western Digital reported a loss of $366 million, or $1.28 a share, compared with a year-earlier profit of $283 million, or $1.21 a share. Excluding items, adjusted per-share earnings fell to $1.18 from $1.56. Revenue increased 40% to $4.71 billion.

The company expected per-share profit of $1 to $1.05 and revenue of $4.45 billion to $4.55 billion.

Shares fell 1.6% to $55.60 in recent after-hours trading Wednesday.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

October 26, 2016 18:15 ET (22:15 GMT)

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