Western Digital posted its 2015 second quarter financial results today, with earnings of $0.94 per share on revenue of $3.2 billion. This compares to earnings of $1.32 per share on revenue of $3.7 billion for the same quarter last year.
Weak PC markets still affected Western Digital's results, and increasing penetration of flash is hurting HDD sales, the firm noted.
"Western Digital said it is seeing early signs of PC market stabilization, which leads it to believe that PC demand could pick up toward the end of this calendar year," KeyBanc analysts said.
Western Digital is a data storage solutions company that enables consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content.
Shares of Western Digital are rising 7.78% to $84.88 in pre-market trading on Thursday.
Separately, TheStreet Ratings team rates WESTERN DIGITAL CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate WESTERN DIGITAL CORP (WDC) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, notable return on equity and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow.