Western Digital posts solid Q4, NCR trips, other techs mixed
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Western Digital handily topped fourth quarter expectations as the company benefited from strong storage demand across multiple fronts.
The storage giant reported fourth quarter earnings of $756 million, or $2.46 a share, on revenue of $5.1 billion. Non-GAAP earnings for the quarter were $3.61 a share.
Wall Street was expecting Western Digital to report fourth quarter non-GAAP earnings of $3.49 a share on revenue of $5.06 billion.
Read also: Western Digital shakes up data storage
Western Digital reaches everything from mobile storage via Sandisk to data centers. For fiscal 2018, Western Digital delivered net income of $675 million, or $2.20 a share, on revenue of $20.6 billion.
The company added that it has authorized a new $5 billion share repurchase program.
Among other key enterprise technology results on Thursday:
Juniper Networks published its second-quarter financial results, beating estimates.
The network equipment maker reported a net income of $116 million, or 33 cents per share. Non-GAAP earnings were 48 cents per share on revenue of $1.2 billion, down 11 percent year over year. Wall Street was expecting earnings of 26 cents per share on revenue of $1.05 billion.
In terms of guidance, analysts expect Juniper to report revenue of $1.22 billion with earnings of 51 cents per share. Juniper responded below target, with Q3 revenue guidance of $1.17 billion, plus or minus $30 million, with earnings of 44 cents a share.
Its shares are down more than six percent after hours.
LogMein reported second quarter earnings of $6.6 million, or 12 cents a share, on revenue of $305.7 million. Non-GAAP earnings were $1.32 a share. The company said it delivered a solid quarter, but sees "isolated headwinds in the second half."
As for the outlook, LogMein projected third quarter revenue of $301 million to $303 million with non-GAAP earnings of $1.33 a share to $1.35 a share.
NCR, which makes ATM and point-of-sale equipment, cut its outlook for the year as its second quarter revenue fell 4 percent. The company reported a second quarter loss of $1.31 a share on revenue of $1.54 billion, down 4 percent from a year ago.
The company called the second quarter results mixed and said it will reorganize and add executives to its team to bolster the business.
In the second quarter, NCR's software licensing business, ATM and point of sale units all saw double-digit revenue declines.
As for the outlook, NCR said its 2018 results will be hit by delays in product rollouts and supply chain constraints. NCR now sees annual non-GAAP earnings of 2.55 to $2.75, down from previous guidance of $3.30 to $3.45. Hardware profit margins are the biggest reason for the earnings miss.
Read also: Western Digital 400GB memory card - CNET
VeriSign reported second quarter earnings of $128 million, or $104 a share, on revenue of $302 million, up 4.8 percent from a year ago. VeriSign offers domain names and Internet security tools.
Non-GAAP second quarter earnings were $1.18 a share.
Wall Street was expecting second quarter earnings of $1.14 a share on revenue of $302.6 million.