The Irvine, California based hard-disk-drive maker’s adjusted earnings beat expectations of $2.47 a share by coming in at $3.35. WDC has a P/E ratio of 7.57 and had an increase in quarterly revenue of 97.8% since this time last year. The company shipped 71 million hard drives during the previous quarter with revenue of $4.75 billion, $.5 billion higher than expected. They reported a net income of $158 million or 67 cents a share.
Along with strong earnings, WDC and analysts project strong guidance for the coming quarter. Q1 sales are expected to be between $4.2 and $4.3 billion with an average adjusted EPS of $2.5.
David Cornes holds a degree in economics from the University of Montana.