SanDisk Corp. (NASDAQ:SNDK) reported third-quarter results after Thursday’s closing bell, beating analyst estimates on the top and bottom lines.
Here's a look at the details inside the report.
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SanDisk Q3 Details
SanDisk reported quarterly earnings of $23.41 per share, which beat the analyst consensus estimate of $14.43 by 62.23%, according to Benzinga Pro data.
Quarterly revenue came in at $5.95 billion, which beat the Street estimate of $4.68 billion by 27.03% and was up from $1.7 billion in the same period last year.
The company said that revenue outperformance was driven by both mix shift toward higher-value customers, with Datacenter up 233%, and higher pricing.
“This quarter marks a fundamental inflection point for Sandisk — where our technology leadership is enabling a deliberate shift in our mix toward the highest-value end markets, led by Datacenter,” said David Goeckeler, CEO of Sandisk.
Looking Ahead
SanDisk is looking for fourth quarter adjusted EPS of $30 to $33, versus the $22.01 analyst estimate, and revenue of $7.75 billion to $8.25 billion, versus the $6.35 billion analyst estimate.
SNDK Stock Price: According to data from Benzinga Pro, SanDisk stock was down 7.53% to $1,015 in Thursday's extended trading.
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