Sandisk delivers quarterly revenue beat on strong AI data center demand
Published: 10:22 06 Aug 2026 EDT
Sandisk (NASDAQ:SNDK) shares fell nearly 7% on Thursday after the data storage company issued fiscal first-quarter guidance that came in slightly below some elevated Wall Street expectations, overshadowing a quarterly earnings and revenue beat driven by demand from AI data centers.
For the first quarter of fiscal 2027, Sandisk expects revenue of $10.3 billion to $10.8 billion, compared with consensus expectations of about $10.8 billion and estimates as high as $11.16 billion. The company expects non-GAAP diluted earnings of $44 to $46 per share.
Sandisk reported fiscal fourth quarter revenue of $8.97 billion, up 51% sequentially and above analyst estimates of about $8.48 billion. Non-GAAP diluted earnings were $39.25 per share, compared with expectations of about $34.96 per share.
Data center revenue reached $2.98 billion, up 103% sequentially. The company said about one-third of its sequential revenue growth came from higher volumes, while two-thirds came from higher pricing.
For fiscal 2026, revenue was $20.25 billion, up 175% year over year, while non-GAAP diluted earnings were $70.88 per share. Sandisk said the annual revenue performance was driven by a shift toward higher-value customers and higher pricing, with data center revenue up 437%.
Sandisk also announced that its board approved an additional $14 billion share repurchase authorization, bringing its total remaining authorization to $15.5 billion.
"We closed fiscal 2026 with a leading technology portfolio, established datacenter as a key growth pillar, and deepened our customer partnerships," Sandisk CEO David Goeckeler said.
"Our technology and products are well positioned to create value for our customers and generate growing and durable free cash flow."
