SanDisk Revenue Jumps 378% to $11 Billion — and Unveils an 8-for-1 Split

SanDisk (NASDAQ: SNDK) reported fiscal first-quarter 2027 revenue of $11.03 billion on Thursday, October 29, 2026 — up 378% from a year earlier and ahead of the roughly $10.7 billion analysts expected — and announced an eight-for-one forward stock split effective November 19, 2026. Adjusted earnings of $49.51 a share also beat the $46.67 consensus, yet the stock wobbled and traded lower after hours, a sign of how high expectations had climbed.

What happened

SanDisk said fiscal first-quarter revenue rose 23% from the previous quarter to $11.0 billion, with GAAP net income of $8.1 billion, or $52.60 a diluted share. Non-GAAP earnings were $49.51 a share. Adjusted gross margin reached 85.1%, up from 29.9% in the year-ago quarter, reflecting sharply higher prices for NAND flash memory as supply stays tight.

Data center revenue was the standout, rising 61% from the previous quarter to $4.8 billion as AI infrastructure builders bought more flash storage. Edge revenue — flash products for smartphones, PCs, cars and other devices — rose to $5.8 billion, though that missed the roughly $6.07 billion analysts had modeled. Consumer revenue fell to $397 million, also below the roughly $590 million expected.

The company also returned $5.0 billion to shareholders by repurchasing about 3.2 million shares during the quarter. Over the past two quarters it has bought back 6.0 million shares, about 4% of shares outstanding.

The 8-for-1 stock split, explained

SanDisk's board approved an eight-for-one forward split effective November 19, 2026, saying it wants to make the stock more accessible, including to employees buying shares through its stock purchase plan. The shares closed the regular session at $1,330.05, which would be roughly $166 a share on a split-adjusted basis. A split does not change the company's market value or any shareholder's percentage ownership — each holder simply owns eight times as many shares at one-eighth the price.

Why the stock fell anyway

Shares closed down 5.3% in regular trading before the report and were down more than 3% in late after-hours trading after wobbling, according to Barron's. The pattern is familiar this earnings season: results that beat estimates can still disappoint when a stock has run far ahead of the numbers. Two segments missing expectations — Edge and Consumer — gave sellers a reason, even as the data-center business and margins came in strong.

Guidance for the December quarter

For its fiscal second quarter, SanDisk guided revenue to $12.2 billion to $12.6 billion, with adjusted earnings of $55.00 to $57.00 a share on a pre-split basis — both ahead of what analysts had expected. The company says it sees a structural, AI-driven increase in demand for NAND memory extending beyond fiscal 2030.

What's next

Investors will watch whether NAND pricing stays firm enough to support SanDisk's guidance, how the split changes trading when it takes effect in November, and whether consumer demand recovers after a weak quarter. This report is news coverage, not financial advice.

Sources

SanDisk — Fiscal First Quarter 2027 Financial Results (company release, Oct. 29, 2026)
Barron's — SanDisk Reports Another Big Earnings Beat. Investors May Have Wanted More.
Quiver Quantitative — SanDisk Reports $11.0 Billion Revenue and $8.1 Billion GAAP Net Income

FAQ

How did SanDisk do in its fiscal first quarter of 2027?

Revenue was $11.03 billion, up 378% year over year and above the roughly $10.7 billion expected, with adjusted earnings of $49.51 a share versus $46.67 expected and GAAP net income of $8.1 billion.

When is SanDisk's 8-for-1 stock split?

The split is effective November 19, 2026. Each existing share becomes eight shares, so the per-share price falls to about one-eighth of its pre-split level without changing the company's total market value.

Why did SanDisk stock fall after a beat?

The stock had run up sharply, and two segments — Edge at $5.8 billion and Consumer at $397 million — missed analyst expectations, so the beat was not clean enough for investors who had priced in more.

What did SanDisk guide for next quarter?

It expects fiscal second-quarter revenue of $12.2 billion to $12.6 billion and adjusted earnings of $55.00 to $57.00 a share on a pre-split basis, both above consensus.