October 26, 2017 / 8:15 PM / 2 months ago

Western Digital quarterly revenue rises 9.9 pct

Oct 26 (Reuters) - Data-storage device maker Western Digital Corp reported a 9.9 percent jump in quarterly revenue on strong demand for its memory chips from smartphone makers and datacenter operators.

The company posted a net income of $681 million, or $2.23 per share, in the first quarter ended Sept. 29, compared with a net loss of $366 million, or $1.28 per share, a year earlier.

Net revenue rose to $5.18 billion from $4.71 billion.

Western Digital is seeking to block the sale of a chip unit by partner Toshiba Corp to a group led by private equity firm Bain Capital LP that includes the chipmaker’s rivals Seagate and SK Hynix Inc. (Reporting by Sonam Rai in Bengaluru; Editing by Shounak Dasgupta)

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