Sandisk’s fiscal Q1 revenue outlook of $10.3B-$10.8B misses elevated estimates, offsetting a Q4 beat fueled by AI data center demand.
Sandisk’s shares fell nearly 7% after its fiscal first-quarter revenue guidance of $10.3 billion to $10.8 billion fell short of some Wall Street expectations, which had reached as high as $11.16 billion. The company projected non-GAAP earnings of $44 to $46 per share for the period.
The company reported fiscal fourth-quarter revenue of $8.97 billion, up 51% sequentially and above analyst estimates of $8.48 billion. Non-GAAP earnings surged to $39.25 per share, exceeding expectations of $34.96. Data center revenue nearly doubled to $2.98 billion, with pricing driving two-thirds of sequential growth.
Sandisk also announced a $14 billion increase to its share repurchase program, bringing total authorization to $15.5 billion. Fiscal 2026 revenue rose 175% year over year to $20.25 billion, driven by higher-value customers and pricing power.