The company generated $243 million in cash from operations during the December quarter, net of the Seagate arbitration award payment of $773 million, ending with total cash and cash equivalents of $4.9 billion. During the December quarter, the company utilised $309 million to repurchase 3.2 million shares of common stock. On Nov. 4, the company declared a $0.40 per common-share dividend, which was paid on Jan. 15.

"We delivered strong financial results in the December quarter, with better-than-anticipated revenues, gross margins, and earnings," said Steve Milligan, president and chief executive officer. "The diversified nature of our business and solid execution by our HGST and WD subsidiaries are enabling us to consistently deliver strong financial performance. Also, I am encouraged by the market's response to our strategic growth initiatives, which we believe position the company to thrive in the evolving data storage ecosystem."