Sandisk guides second-quarter revenue of $12.2 billion to $12.6 billion
Sandisk on Oct. 29 reported fiscal first-quarter net income of $8.1 billion, or $52.60 a share, up from $112 million, or 75 cents a share, a year earlier. Revenue rose to $11.03 billion from $2.31 billion, beating the $10.72 billion that Wall Street analysts had expected.
The gains follow memory demand tied to the AI buildout, which has pushed prices higher, the Journal reported. Hyperscalers have been willing to pay high prices for data storage, transforming the businesses of providers such as Sandisk, and capacity has remained constrained — giving suppliers significant leverage in price negotiations with customers, according to the Journal.
On an adjusted basis, Sandisk earned $49.51 a share, above the $46.67 forecast from analysts polled by FactSet.
For the fiscal second quarter, the company guided revenue of $12.2 billion to $12.6 billion and adjusted earnings of $55 to $57 a share. Analysts had projected second-quarter revenue of $12.31 billion and adjusted earnings of $53.60 a share.
Sandisk shares traded 5.32% lower in recent trading, according to market data.