Sandisk profit surges on AI demand
Sandisk (SNDK) reported fiscal first-quarter 2027 results at approximately 4:05 p.m. ET on October 29, with revenue surging 378% year over year to $11.031 billion, above the roughly $10.72 billion consensus. GAAP net income jumped to $8.101 billion from $112 million, while GAAP diluted EPS climbed to $52.60 from $0.75. Adjusted EPS of $49.51 exceeded analysts' $46.67 forecast, with non-GAAP gross margin reaching 85.1%.
Datacenter revenue reached $4.802 billion, while Edge sales increased 320% and Consumer revenue declined 39%. Sandisk forecast fiscal second-quarter revenue of $12.2–12.6 billion and adjusted EPS of $55–57. The company also announced an eight-for-one stock split. Shares fell 3.80% in after-hours trading as of 7:59 p.m. ET on October 29. The results had been public for approximately eight hours when this report was prepared.
| Metric | Actual | Consensus / guidance |
|---|---|---|
| Revenue | $11.031B | ~$10.72B |
| Revenue growth YoY | +378% | — |
| GAAP net income | $8.101B | Prior year: $112M |
| GAAP diluted EPS | $52.60 | Prior year: $0.75 |
| Adjusted EPS | $49.51 | $46.67 |
| Datacenter revenue | $4.802B | Prior year: $269M |
| Non-GAAP gross margin | 85.1% | — |
| FY2027 Q2 revenue guidance | $12.2–12.6B | ~$12.31B |
| FY2027 Q2 adjusted EPS guidance | $55–57 | ~$53.60 |
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