* Expects 4th-quarter earnings $1.65-$1.80/shr vs est $1.74
* Expects 4th-quarter rev $3.55 bln-$3.65 bln vs est $3.58
* 3rd-quarter adj earnings $2.10/shr vs est $1.77
* Shares up 3 percent after-market
By Neha Alawadhi
April 24 Hard disk drive maker Western Digital
Corp forecast current-quarter revenue largely above
analysts' expectations as higher demand for internet storage
more than offsets the effects of a fall in personal computer
The company forecast fourth-quarter earnings of $1.65 to
$1.80 per share on revenue of $3.55 billion to $3.65 billion.
Analysts on average were expecting earnings of $1.74 per
share on revenue of $3.58 billion, according to Thomson Reuters
Hard drive sales have been hit as consumers buy fewer
personal computers and increasingly shift to smartphones.
Technology tracking firm International Data Corp said
earlier this month that PC sales fell 14 percent in the first
three months of the year, the biggest decline in two decades of
Western Digital, which dominates the hard disk drive market
along with Seagate Technology Plc, however, said it
expected a 3 percent unit growth rate in hard drives.
"It appears the hard drive business is not suffering as
much. That is because of the growth of the cloud and digital
data," Noble Financial Capital Markets analyst Mark Miller said.
The demand for storage is growing at the rate of 30 percent
annually, Miller added.
The company counts Hewlett-Packard Co as its top
Net income for Western Digital fell to $391 million, or
$1.60 per share, in the third quarter, from $483 million, or
$1.96 per share, a year earlier.
Revenue rose 24 percent to $3.76 billion.
Excluding items, it earned $2.10 cents per share.
Analysts on average had expected earnings of $1.77 per share
on revenue of $3.61 billion.
Hard disk drive shipments rose 36 percent to 60.2 million
Western Digital shares were up 3 percent in extended trading
after closing at $52.90 on the Nasdaq on Wednesday.