Sandisk tops fiscal Q1 profit estimates as datacenter revenue climbs
Sandisk said on Oct. 29 that non-GAAP diluted earnings were $49.51 per share, topping the $47.15 consensus estimate compiled by Finnhub, while revenue of $11.03 billion was above the $10.85 billion estimate.
Key takeaways
- Sandisk Corporation (SNDK) said on Oct. 29 its fiscal first-quarter revenue was $11.03 billion, above the $10.85 billion consensus estimate compiled by Finnhub, and non-GAAP earnings were $49.51 per share, topping the $47.15 estimate. It forecast second-quarter revenue of $12.2 billion to $12.6 billion and announced an eight-for-one stock split effective Nov. 19.
Sandisk Corporation (SNDK) said on Oct. 29 that its fiscal first-quarter revenue rose to $11.03 billion, and its non-GAAP diluted earnings were $49.51 per share, topping the $47.15 consensus estimate compiled by Finnhub. The results covered the quarter ended Oct. 2, 2026, the company said in a filing.
Shares rose 1.4% in after-hours trading as of 4:16 p.m. ET, from a regular-session close of $1,330.44.
Sandisk is a vertically integrated global semiconductor company that designs and manufactures memory products. Its range runs from enterprise SSDs for AI infrastructure to consumer devices and connected systems at the edge.
Here’s how the company did:
- Revenue: $11.03 billion vs. $10.85 billion expected, according to Finnhub
- Non-GAAP diluted EPS: $49.51 per share vs. $47.15 expected, according to Finnhub
- GAAP diluted EPS: $52.60 per share, up 20% from the prior quarter
Revenue rose 23% from the prior quarter. GAAP net income was $8.1 billion.
Revenue has risen in each of the last three quarters, from $2.31 billion in the first quarter of fiscal 2026 to $8.96 billion in the fourth quarter, according to its SEC filings.
“We have started fiscal year 2027 with another quarter of strong performance,” said David Goeckeler, Chairman and Chief Executive Officer of Sandisk. “We are executing on the strategy that we outlined at Investor Day, delivering growing and durable free cash flow.”
Segment results
Datacenter revenue was $4.80 billion, up 61% from the prior quarter. Edge revenue was $5.83 billion, up 7%. Consumer revenue was $397 million, down 29%.
Second-quarter outlook
The company expects fiscal second-quarter revenue of $12.2 billion to $12.6 billion. It expects non-GAAP diluted net income per share of $55.00 to $57.00 on a pre-split basis.
Stock split and buybacks
The board approved an eight-for-one forward stock split, the company said in a filing. Stockholders of record at the close of business on Nov. 9, 2026 will receive seven additional shares for each share held, issued after market close on Nov. 19. Trading on a post-split basis is expected to begin at the market open on Nov. 20 under the symbol SNDK. Authorized common shares will rise from 450 million to 3.6 billion.
The company repurchased about 3.2 million shares for $5.0 billion during the quarter. Over the past two fiscal quarters it repurchased 6.0 million shares, about 4% of total shares outstanding.