![]() In its first-quarter earnings for fiscal 2023, which ended Sept. The company said it took a net loss of $33 million, its first quarterly loss since 2016. Last week, Seagate reported a 41% year over year decline in HDD revenue during its second-quarter earnings for fiscal 2023. ![]() "We continue to take action to reset the business in response to the post-pandemic environment by optimizing our cost structure and strengthening our liquidity," said David Goeckeler, Western Digital CEO, in a press statement. ![]() WD has also entered into agreements with Apollo Global Management and Elliott Investment Management for convertible preferred equity investments of $900 million. WD released its fiscal second-quarter 2023 earnings Tuesday, where it reported a 36% decline in total revenue year over year and a 34% decline in HDD revenue year over year.
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