Western Digital revenue slumps 20.7 percent

 Western Digital revenue slumps 20.7 percent

(Reuters) - Data storage device maker Western Digital Corp reported a bigger-than-expected 20.7 percent fall in quarterly revenue on Thursday, adding to concerns over a China-led slowdown in smartphone demand.

The company's loss narrowed to $487 million, or $1.68 per share, in the second quarter ended Dec. 28, from $823 million, or $2.78 per share, a year earlier. Revenue fell to $4.23 billion from $5.34 billion.

Analysts on average had expected revenue of $4.26 billion, according to IBES data from Refinitiv.

(Reporting by Sayanti Chakraborty in Bengaluru; Editing by Sriraj Kalluvila)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Jan 25, 2019 05:05:06 IST