Western Digital’s profit, revenue beat estimates

(Reuters) – Data storage company Western Digital Corp reported higher-than-expected revenue and profit on Wednesday, helped by demand for its products amid stabilizing PC demand and a shift by businesses to cloud storage. Western Digital has benefited from its shift to high-performance and cost-effective NAND flash drives, which is fast replacing the traditional magnetic storage method. Demand for the company's cloud-based data storage products has also increased as businesses increasingly move to the cloud.

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