It's been a busy Wednesday afternoon for digging into the deep, dark depths of Silicon Valley finances.
After the markets closed, Western Digital, SanDisk, Polycom, and F5 released their latest respective quarterly earnings.
Here's what you need to know.
Western Digital reported fiscal second-quarter net income of $430 million with earnings of $1.77 per share (statement). Non-GAAP earnings were $2.19 per share on revenue of $4 billion, far higher than analyst expectations.
Wall Street was expecting the storage firm to post $2.08 per share on revenue of $3.85 billion for the quarter.
"The industry [total addressable market] was slightly higher than anticipated, driven by seasonal demand as we saw strength in gaming and branded products," Western Digital chief executive Steve Milligan said in remarks. He added that he was "very excited about our unique position in the storage ecosystem."
SanDisk reported fiscal fourth-quarter net income of $338 million with earnings of $1.45 per share (statement). Non-GAAP earnings were $1.71 per share on revenue of $1.73 billion, up 12 percent year over year, and above analyst expectations.
Wall Street was expecting the hard drive and storage company to post $1.58 per share on revenue of $1.7 billion.
"Our SSD product revenue set another quarterly record and represented 19 percent of our annual revenue, and we also set a record for annual retail product revenue," SanDisk chief executive Sanjay Mehrotra said in prepared remarks. He added that the company is "excited" about its prospects in the new 2014 fiscal year.
For the 2013 fiscal year, SanDisk posted revenue of $6.17 billion with non-GAAP earnings of $5.31 per share, well above Wall Street expectations of revenue of $6.15 billion with earnings of $5.19 per share.
SanDisk also issued a first-quarter dividend of 2.25 cents per share of common stock, payable on February 24.
Polycom reported fiscal fourth-quarter loss of $2 million with a loss of 1 cent per share (statement). Non-GAAP earnings were 16 cents per share on revenue of $347.9 million, down 1 percent year over year, but were still above analyst expectations.
Wall Street was expecting the communications and collaboration company to post 15 cents per share on revenue of $341.7 million.
"Polycom posted stronger sequential performance in [the fourth quarter], driven by ongoing strength in UC Personal Devices and improvements in EMEA and Asia Pacific," Polycom president Peter Leav said in prepared remarks. "In 2014, our goal is to prioritize growth areas within the business and deliver an improved cost structure that will result in better overall profitability for Polycom."
For the 2013 fiscal year, Polycom posted revenue of $1.37 billion with non-GAAP earnings of 55 cents per share, beating Wall Street expectations of revenue of $1.36 billion with earnings of 53 cents per share.
F5 Networks reported fiscal first-quarter net income of $68 million with earnings of 87 cents per share (statement). Non-GAAP earnings were $1.22 on revenue of $406.5 million.
Wall Street analysts were expecting $1.19 per share on revenue of $397.3 million.
F5 Networks chief executive John McAdam said sales were strong across all geographic regions thanks to the company's new "Good, Better, Best" pricing model introduced in early November.
He added: "During the first quarter, increasing demand for the new hardware and software products we introduced in fiscal 2013 continued to drive product revenue, which increased 3 percent from the prior quarter and 7 percent year over year."