Western Digital revenue slumps 20.7 percent

Updated: Fri, Jan 25, 2019
03:06 am
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities

Data storage device maker Western Digital Corp reported a bigger-than-expected 20.7 percent fall in quarterly revenue on Thursday, adding to concerns over a China-led slowdown in smartphone demand.

The company`s loss narrowed to $487 million, or $1.68 per share, in the second quarter ended Dec. 28, from $823 million, or $2.78 per share, a year earlier. Revenue fell to $4.23 billion from $5.34 billion.

Analysts on average had expected revenue of $4.26 billion, according to IBES data from Refinitiv.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.