Western Digital Corp. WDC shares shifted between slight losses and gains in the extended session Monday after the data-storage device company’s results came in better than expected but its forecast didn’t. Western Digital shares hovered between a 2% loss and a 2% gain after hours, following a 2.2% gain in the regular session to close at $34.18.The company reported a third-quarter loss of $572 million, or $1.82 a share, versus net income of $25 million, or 8 cents a share, in the year-ago period. The adjusted loss, which excludes stock-based compensation expenses and other items, was $1.37 a share, versus earnings of $1.65 a share in the year-ago period. Revenue declined to $2.8 billion from $4.38 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of $1.57 a share on revenue of $2.7 billion. Western Digital forecast a fourth-quarter loss of $2.20 to $1.90 a share on revenue of $2.4 billion to $2.6 billion, while analysts surveyed by FactSet estimated a loss of $1.27 a share on revenue of $2.86 billion. “The groundwork we laid, combined with the actions we have taken since the beginning of this fiscal year to right-size and refocus our businesses, have enabled us to navigate a dynamic environment,” said David Goeckeler, Western Digital chief executive, in a statement. “I am pleased that we delivered non-GAAP gross margin at the higher end of our guidance range due to strong execution across both our HDD and Flash businesses.”
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