Western Digital, Yahoo!: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Western Digital ( WDC) turned lower in late trades Monday after the hard disk drive maker reported strong quarterly results but gave a disappointing guidance.

After the closing bell, Irvine, Calif.-based Western Digital reported an adjusted profit of $594 million, or $2.35 a share, for its fiscal first quarter ended in September on revenue of $4.04 billion, besting the average estimate of analysts polled by Thomson Reuters for earnings of $2.29 a share on revenue of $3.97 billion.

"We are pleased to deliver another quarter of strong financial performance, continuing our track record of consistent execution," said John Coyne, the company's CEO, in a press release. "While the macroeconomic environment is dampening near term demand, we remain confident in the continued long-term growth in the creation, storage and management of digital content. Western Digital has never been better positioned to address this opportunity, with great people, deep technology, a broad product portfolio and strong customer and supplier relationships."

Western Digital said hard drive shipments totaled 62.5 million in the latest quarter vs. 57.8 million in the same period a year earlier.

On its conference call though, the company said it sees non-GAAP earnings of $1.65 to $1.85 a share for its fiscal second quarter on revenue ranging from $3.55 billion to $3.70 billion, according to Briefing.com. That view is below the current analyst view for a profit of $2.40 a share on revenue of $4.08 billion.

The stock was last quoted at $33.45, down 5.2%, on volume of more than 640,000, according to Nasdaq.com. Earlier, the shares ran as high as $37.30. Also taking a hit after the bell was rival drive maker Seagate Technology ( STX), down more than 4% at $27.15 on volume of nearly 550,000.

Shares of Yahoo! ( YHOO) jumped in late trades after the company bucked the general trend for tech companies this quarter and delivered above-consensus results on both the top and bottom lines.

The stock was last quoted at $16.32, up 3.5%, on extended volume of 3.05 million, according to Nasdaq.com.

For the third quarter ended Sept. 30, the Sunnyvale, Calif.-based Internet content and search company reported non-GAAP earnings excluding items of $177 million, or 35 cents a share, with revenue excluding traffic acquisition costs, or TAC, come in at $1.09 billion.

The average estimate of analysts polled by Thomson Reuters was for a profit of 25 cents a share in the September-ended period on revenue of $1.08 billion.

In the same period a year earlier, Yahoo! earned $175 million, or 21 cents a share, on a non-GAAP basis on revenue excluding TAC of $1.07 billion.

"Yahoo! had a solid third quarter, and we are encouraged by the stabilization in search and display revenue," said Marissa Mayer, the company's CEO. "We're taking important steps to position Yahoo! for long-term success, and we're confident that our focus on quality and improving the user experience will drive increased value for our advertisers, partners and shareholders."

Based on Tuesday's close at $15.77, Yahoo! shares were down 2.2% in 2012.

Other stocks active after the closing bell on Monday were Texas Instruments ( TXN), whose stock was flat on volume of nearly 800,000 after the chip maker topped Wall Street's expectations for the third quarter but issued a below-consensus forecast for the fourth quarter; and Veeco Instruments ( VECO), whose shares fell nearly 5% to $27.50 on volume of nearly 150,000 after the Plainview, N.Y. maker of technology capital equipment forecast non-GAAP earnings of 4 to 16 cents a share for the fourth quarter vs. Wall Street's estimate of 34 cents a share.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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