Western Digital Reports Wider Q2 Loss Amid Structural Changes

Company's loss includes $156 million in underutilization charges, with expectations for improved performance in the current quarter.

Western Digital Corp reported a wider-than-expected Q2 loss due to structural changes in its flash and HDD businesses.
The company's Q2 loss included $156 million of underutilization-related charges in Flash and HDD.
On an adjusted basis, the company reported a loss of 69 cents per share, missing analysts' average estimate of a loss of $1.31 per share.
Western Digital expects current-quarter adjusted profit to range from a loss of $0.10 to a profit of $0.20 per share.
The company reported revenue of $3.03 billion for the quarter, slightly beating analysts' expectations.