Western Digital Corp, a maker of hard-disk drives, posted reports of a revenue and quarterly profit that is better than expected as businesses allotted higher budgets on computer upgrades or purchasing server storages, as well as data centers.
Western Digital got to earn 2.10 dollars for every share that it has, with item adjustments, during the first quarter which ended on the 3rd day of October. This was more than the estimates of average analysts which is 2.03 dollars for every share.
As said by Steve Milligan, the chief executive, they are pleased to be able to see momentum and strength in their capacity enterprise hard drive, as well as their business for flash platform solutions.
He said that generally, they believe that the dynamics of the industry when it comes to supply and demand, as well as inventory levels.
On Monday, Seagate Technology Plc, its rival, also made reports regarding its quarterly reports that are better than what they have expected, supported by strong storage product sales to businesses, as well as a PC market that is clearly getting improved.