Sandisk Tops Revenue Estimates at $11.0 Billion as Datacenter Sales Jump 61%

Sandisk (Nasdaq: SNDK) reported fiscal first-quarter revenue of $11.03 billion, above the $10.70 billion analysts expected, and adjusted diluted earnings of $49.51 per share against the $46.41 consensus estimate, in an 8-K filed Thursday, Oct. 29, 2026. GAAP diluted earnings were $52.60 per share.

Revenue rose 23% from the fourth quarter and more than fourfold from a year earlier, when the company reported $2.31 billion. GAAP net income was $8.10 billion, compared with $112 million a year earlier. Non-GAAP operating income was $8.87 billion, and non-GAAP gross margin was 85.1%.

Datacenter and edge growth

Datacenter revenue reached $4.80 billion, up 61% from the fourth quarter. Edge revenue was $5.83 billion, up 7% sequentially. Consumer revenue fell 29% from the prior quarter to $397 million.

Guidance and stock split

For the fiscal second quarter, the company expects revenue of $12.2 billion to $12.6 billion. The guidance is against a $12.29 billion analyst consensus for the next quarter. It expects non-GAAP diluted earnings of $55.00 to $57.00 per share on a pre-split basis, compared with a consensus of $53.35.

The board approved an eight-for-one forward stock split. Stockholders of record as of Nov. 9, 2026 will receive seven additional shares for each share held, issued after the close on Thursday, Nov. 19, 2026. The company expects trading on a post-split basis to begin at the open on Friday, Nov. 20, 2026, under the symbol SNDK.

The company also returned $5.0 billion to stockholders through repurchases of about 3.2 million shares during the quarter.