Everything is bad in the next quarterly report of Western Digital

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.