SanDisk Fiscal 2027 Q1 Earnings: Revenue $11 billion, up 23% quarter-over-quarter, announces 8-for-1 stock split

BlockBeats news, October 30 - SanDisk reported its first fiscal quarter 2027 results, with revenue of approximately $11 billion, up 23% quarter-over-quarter and approximately 378% year-over-year. Non-GAAP diluted earnings per share were $49.51, with an adjusted gross margin of approximately 85.1%. The company repurchased approximately 3.2 million shares during the quarter for approximately $5 billion. The company said robust data center-related demand drove business growth.

The company expects second fiscal quarter revenue of $12.2 billion to $12.6 billion, and pre-split non-GAAP diluted earnings per share of $55 to $57. It also announced an 8-for-1 forward stock split, with a record date of November 9, additional shares to be distributed to shareholders after market close on November 19, and trading expected to begin at post-split prices at market open on November 20.

According to data from the BIT stock platform, SanDisk (SNDK) closed down 5.32%, and fell another 3.77% after hours.