Western Digital delivers strong Q4 with broad portfolio

Western Digital counters Seagate's earnings miss. LogMein, MuleSoft, and MobileIron report.

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Western Digital showed strong financial results for its fiscal fourth quarter and said it is executing well.

The storage company's report comes shortly after Seagate missed its targets.

Western Digital reported fourth quarter net income of $280 million, or 93 cents a share, on revenue of $4.8 billion. Non-GAAP earnings for the fourth quarter were $2.93 a share.

Wall Street was looking for earnings of $2.81 a share on revenue of $4.81 billion.

For fiscal 2017, Western Digital delivered net income of $397 million, or $1.34 a share, on revenue of $19.1 billion.

CEO Steve Milligan said Western Digital's broad portfolio, which includes SanDisk, allowed it to hit its growth targets with healthy margins.

Among other tech earnings:

  • LogMein reported second quarter net income of $14.8 million, or 28 cents a share, on revenue of $257 million. Non-GAAP earnings were $1.01 a share. For the third quarter, LogMein said it will deliver revenue between $264 million to $266 million with non-GAAP earnings of $1.10 a share to $1.12 a share.
  • MobileIron said it has more than 15,000 customers as it delivered second quarter revenue of $42.7 million, up 10 percent from a year ago. The company lost 20 cents a share (8 cents a share non-GAAP). As for the outlook, MobileIron projected revenue between $44 million and $46 million. For 2017, MobileIron sees $175 million to $185 million in revenue.
  • MuleSoft said it lost 15 cents a share in its second quarter on revenue of $69.2 million, up 57 percent from a year ago. Deferred revenue was up 50 percent from a year ago to $144.4 million. MuleSoft added that third quarter revenue will be between $71 million and $72 million with a non-GAAP loss of 12 cents a share. For the year, MuleSoft projected revenue between $279 million and $281 million.