Western Digital Earnings: Revenues, Profits Down After Shipments Decline

Western Digital reported its fiscal first quarter 2016 earnings on Wednesday, October 28, reporting a nearly 15% year-over-year decline in net revenues to $3.36 billion. The total hard drives shipped by Western Digital through the quarter were about 20% lower than the previous year period at 51.7 million units. The decline was largely driven by sustained weakness in the PC market, which led to low product shipments. The company expects weakness to continue through the December quarter, with expe...