Revenues: Total revenues for the fourth quarter of 2022 were $132.6 million, a 1.5% decrease, or a 4.1% increase on a non-GAAP constant currency basis, compared to the fourth quarter of 2021.
Loss from Operations and Net Loss: Loss from operations for the fourth quarter of 2022 was $193.7 million, compared to $137.5 million for the fourth quarter of 2021. Net loss for the fourth quarter of 2022 was $249.7 million, or $21.93 per share on a diluted basis, as compared to $90.0 million, or $8.43 per share on a diluted basis, for the fourth quarter of 2021. Digital asset impairment losses, net of gains on sale, of $197.6 million and $146.6 million for the fourth quarter of 2022 and 2021, respectively, were reflected in these amounts.
If the market doesn’t collapse soon, plenty of managers will have to start putting money to work. They have waited on the sidelines for the selloff but they can’t wait 4-6 months for it. They are paid to manage and invest, not to sit on hands.
Western Digital Corporation today announced that funds managed by affiliates of Apollo Global Management, Inc. led the purchase of $900 million of convertible preferred stock of Western Digital, along with Elliott Investment Management L.P. who also invested in the convertible offering.