Western Digital Corp's second-quarter profit sailed past Wall Street expectations, as the hard drive maker was able to ramp up production significantly faster than anticipated in the wake of the Thailand floods last year.The strong results drove the stock up 4 percent to $36.25 in extended trade.Western Digital's manufacturing facilities in Bang Pa-in Industrial Park in Ayutthaya province and Nava Nakorn Industrial Park in Pathum Thani province, were severely hit by floods in Thailand last year, leading to modest expectations on Wall Street for the quarter."We have made substantial progress in restoring WD's manufacturing capabilities in the aftermath of the historic flooding in Thailand," Chief Executive John Coyne said in a statement.
Western Digital Corporation (WD) is a provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video. Shares of WDC traded higher by 0.17% or $0.06/share to $34.71. In the past year, the shares have traded as low as $22.64 and as high as $41.87. On average, 4699320 shares of WDC exchange hands on a given day and today's volume is recorded at 5061490.
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