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AI Fuels SanDisk Earnings Beat, Stock Split Planned
30 Oct
Summary
- SanDisk topped Q1 expectations, boosted by AI memory demand.
- Company anticipates strong Q2 revenue and earnings guidance.
- An eight-for-one forward stock split was announced, effective Nov 19, 2026.
SanDisk Corporation reported strong fiscal first-quarter financial results that exceeded analyst expectations, attributing its success to a surge in memory demand for artificial intelligence applications. The company also provided an optimistic near-term outlook, forecasting second-quarter revenue between $12.2 billion and $12.6 billion, surpassing consensus estimates.
Non-GAAP diluted earnings per share for the first quarter reached $49.51, with a gross margin of 85.1%. The data center division showed remarkable sequential revenue growth of 61% to $4.80 billion, driven by enterprise clients expanding AI model deployments.
Alongside its financial performance, SanDisk's board approved an eight-for-one forward stock split, scheduled to be effective after the market close on November 19, 2026. This move aims to enhance liquidity and facilitate employee stock purchase participation.
