At the beginning of the month, more precisely, on October 4, Western Digital completed the first quarter of fiscal year 2020. Yesterday, the manufacturer published a corresponding report.
Western Digital’s revenue for the reporting period was $ 4.0 billion. Operating losses were equal to $ 129 million, and the result of the quarter was a net loss of $ 276 million.
The year before, the company’s quarterly revenue was $ 5.0 billion, operating profit was $ 686 million, and net profit was $ 511 million.
Having abandoned the GAAP methodology, we can assume that in the past quarter operating profit of $ 235 million and a net profit of $ 101 million were obtained. But for comparison: last year’s non-GAAP estimates of these indicators are $ 1.1 billion and $ 906 million, respectively. In other words, there is a significant deterioration in key indicators.
This did not stop the producer from returning $ 147 million to shareholders during the quarter by paying dividends and redeeming shares, and ending the quarter with $ 3.2 billion in cash and cash equivalents. It is worth recalling that a year ago the company had 4.8 billion dollars, and two years ago – 7.0 billion dollars.