Sandisk Reports Q1 Revenue Up 378% to $11B, Announces 8-for-1 Stock Split
Sandisk posted strong fiscal Q1 results driven by AI demand, beating estimates with $11B revenue and $52.60 adjusted EPS, and plans an 8-for-1 stock split effective Nov 19.
US storage chip maker Sandisk Corporation reported its fiscal first-quarter 2027 financial results on October 29, 2026. Revenue reached $11 billion, a 378% increase year-over-year, surpassing analyst expectations of $10.7 billion. Adjusted earnings per share rose to $52.60, significantly exceeding the consensus estimate of $46.67.
The company attributed this performance to robust demand for data-center products, noting that tight supply conditions have enabled substantial price increases. CEO David Goeckeler highlighted the outpaced growth in their data-center business as a key driver.
In conjunction with the earnings release, Sandisk announced an eight-for-one stock split, effective November 19, 2026. The company stated that the lower post-split price aims to make shares more accessible to employees purchasing them through plans and potentially to retail investors.
Despite the strong results, shares dipped slightly in after-hours trading. The company forecasts December quarter revenue between $12.2 billion and $12.6 billion, above the FactSet consensus of $12.3 billion, with adjusted gross margins projected at 84.5% to 85.5%.