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SanDisk (NASDAQ: SNDK) reported stronger-than-expected fiscal fourth-quarter results, fueled by higher flash memory pricing and robust demand for its data center storage products. However, the company's first-quarter fiscal 2027 guidance largely matched Wall Street expectations, leading investors to take profits after the stock's recent rally.
The memory chip maker expects first-quarter revenue between $10.3 billion and $10.8 billion, close to analysts' consensus estimate of $10.62 billion. Adjusted earnings per share are projected at $44.00 to $46.00, broadly in line with the market forecast of $44.21.
Following the earnings release, SanDisk shares slipped about 2% in after-hours trading as investors reacted to guidance that, while solid, failed to significantly exceed elevated expectations.
For the fiscal fourth quarter, SanDisk posted revenue of $8.97 billion, surpassing analyst estimates. Revenue increased 51% sequentially and 372% year over year, with approximately one-third of the growth driven by higher shipment volumes and two-thirds by stronger pricing. The company reported GAAP net income of $6.90 billion, or $43.97 per diluted share, compared with a net loss of $23 million, or $0.16 per share, in the same quarter a year earlier.
SanDisk also delivered strong full-year performance, with fiscal 2026 revenue rising 175% year over year to $20.25 billion. The company attributed the growth to improved pricing and a strategic shift toward higher-value customers. Data center revenue surged 437% for the full year, reflecting accelerating demand for AI infrastructure and enterprise storage solutions.
By business segment, data center revenue more than doubled sequentially to $2.98 billion during the fourth quarter, while edge revenue climbed 48% to $5.43 billion. Consumer revenue, however, declined 32% sequentially to $556 million.
The company also strengthened its shareholder return strategy by approving an additional $14 billion share repurchase authorization, increasing its remaining buyback capacity to $15.5 billion. In addition, SanDisk announced it has signed five more New Business Model agreements since its April earnings report, bringing the total number of new agreements disclosed during the period to 10, highlighting continued momentum in its long-term business strategy.
