SanDisk Corp ( (SNDK) ) has released its Q1 earnings. Here is a breakdown of the information SanDisk Corp presented to its investors.
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SanDisk Corporation is a prominent developer and provider of data storage devices and solutions, specializing in NAND flash technology, catering to a wide range of customers from individual consumers to large enterprises and public clouds.
In its fiscal first quarter of 2026, SanDisk reported a significant revenue increase of 21% sequentially, reaching $2.31 billion, surpassing its guidance range. The company achieved a GAAP net income of $112 million, translating to $0.75 per diluted share, while its non-GAAP diluted net income per share stood at $1.22.
Key financial highlights include a 26% sequential growth in datacenter revenue, with ongoing engagements with major hyperscale customers. SanDisk’s BiCS8 technology contributed to 15% of total bits shipped, with expectations of it becoming the majority of bit production by the end of fiscal year 2026. The company anticipates second-quarter revenue to range between $2.55 billion and $2.65 billion, with non-GAAP diluted net income per share projected between $3.00 and $3.40.
Despite a year-over-year decline in gross margin and net income, SanDisk’s operating income saw a substantial increase from the previous quarter. The company attributes its performance to its strong balance sheet and leading technology portfolio, which positions it well for long-term shareholder value creation.
Looking ahead, SanDisk remains optimistic about its growth prospects, driven by strengthening demand and its strategic positioning in the market. The company aims to continue leveraging its technological advancements to enhance profitability and shareholder value.