Lates News

SanDisk (SNDK.O) reported fiscal 2027 Q1 revenue of $11.03 billion, versus market expectations of $10.68 billion; adjusted earnings per share of $49.51, versus market expectations of $46.27. Data center business revenue reached $4.8 billion, up 61% quarter-over-quarter, driven primarily by enterprise SSD demand fueled by AI infrastructure buildout. The company said product demand is strong and continuing to grow, with data center business growth further accelerating; driven by tight memory product supply, the company was able to raise prices significantly, with Q1 adjusted gross margin reaching 85.1%, up from 84.6% in the previous quarter. The company expects fiscal 2027 Q2 revenue of $12.2 billion to $12.6 billion, versus market expectations of about $12.3 billion, with adjusted gross margin expected at 84.5% to 85.5%. SanDisk shares have risen more than 450% year to date, and the company will implement an 8-for-1 stock split on November 19.