Western Digital Announces Financial Results for Second Fiscal Quarter 2018

Western Digital Corp. today reported record revenue of $5.3 billion for its second fiscal quarter ended Dec. 29, 2017. Operating income was $955 million with a net loss of $823 million, or ($2.78) per share. The GAAP net loss for the period includes a provisional net tax charge of $1.6 billion primarily due to the repatriation tax as a result of the Tax Cuts and Jobs Act. Excluding this charge and after other non-GAAP adjustments, the company achieved record non-GAAP operating income of $1.4 billion and non-GAAP net income of $1.2 billion, or $3.95 per share.