SanDisk's revenue in the first quarter was 11 billion USD, announcing a 1-for-8 stock split

The storage chip company Sandisk (NASDAQ: SNDK) announced its first-quarter results for the fiscal year 2027 ending on October 2 on October 29. The revenue for the quarter was $11.031 billion, a quarter-over-quarter increase of 23% and a year-over-year increase of 378%. The GAAP net profit was $8.101 billion, with diluted earnings per share of $52.60, a quarter-over-quarter increase of 20%; the Non-GAAP diluted earnings per share were $49.51. The GAAP gross margin was 85.0%, and the Non-GAAP gross margin was 85.1%.

By market segment, data center revenue was $4.802 billion, a quarter-over-quarter increase of 61%; edge business revenue was $5.832 billion, a quarter-over-quarter increase of 7%; consumer business revenue was $397 million, a quarter-over-quarter decrease of 29%. The company repurchased approximately 3.2 million shares during the quarter, returning $5 billion to shareholders; over the past two fiscal quarters, a total of 6 million shares have been repurchased, accounting for about 4% of the outstanding shares. The company also announced a 1-for-8 forward stock split for its common stock, with the record date set for November 9, and the new shares will be distributed after the market closes on November 19, with trading expected to begin on November 20 based on the split-adjusted basis. All per-share data disclosed in this announcement is presented on a pre-split basis.

The company expects second-quarter revenue for fiscal year 2027 to be between $12.2 billion and $12.6 billion, with pre-split Non-GAAP diluted earnings per share expected to be between $55 and $57. Chairman and CEO David Goeckeler stated: "The company starts fiscal year 2027 with strong performance, driven by growing product demand that propels the data center business's growth rate." As of October 2, the company had cash and cash equivalents of $5.136 billion, operating cash flow of $6.363 billion, and free cash flow of $6.309 billion.