SanDisk Reports Fiscal Q1 2027 Results and Announces 8-for-1 Stock Split

SanDisk Corporation reported financial results for its fiscal first quarter ended October 2, 2026, and announced an eight-for-one forward stock split. The company reported fiscal first quarter revenue of $11.0 billion, a 23% increase from the previous quarter. GAAP net income was reported at $8.1 billion, with diluted net income per share of $52.60, representing a 20% increase from the prior quarter. Non-GAAP diluted net income per share was $49.51.

Revenue was broken down by end market, with the data center segment generating $4.8 billion, up 61% sequentially. The edge segment generated $5.8 billion, up 7% sequentially. The consumer segment generated $397 million, down 29% sequentially. Compared to the prior year, total revenue increased by 378%, gross margin expanded by 55.2 percentage points to 85.0%, and operating income increased significantly.

In terms of capital allocation, SanDisk returned $5.0 billion to stockholders during the quarter through the repurchase of approximately 3.2 million shares. Over the past two fiscal quarters, the company repurchased 6.0 million shares, representing about 4% of total shares outstanding.

The company also announced an eight-for-one forward stock split of its common stock. The split will be effected through an amendment to the company's Amended and Restated Certificate of Incorporation. Stockholders of record as of the close of business on November 9, 2026, will receive seven additional shares for each share held. The additional shares will be issued after market close on Thursday, November 19, 2026. Trading on a post-split basis is expected to begin at the market open on Friday, November 20, 2026, under the existing trading symbol SNDK. The split is intended to make the stock more accessible, including to employees through its employee stock purchase plan.

SanDisk provided guidance for fiscal second quarter 2027, expecting revenue between $12.2 billion and $12.6 billion. The company expects Non-GAAP diluted net income per share on a pre-split basis to be between $55.00 and $57.00.