Sandisk Announces 8-for-1 Stock Split as Fiscal First-Quarter Revenue Jumps to $11 Billion

Sandisk said fiscal first-quarter revenue rose 23% from the prior quarter to $11.0 billion, up 378% from a year earlier, and announced an eight-for-one stock split, according to its earnings release filed with an 8-K on Thursday.

The flash memory maker reported GAAP net income of $8.1 billion, or $52.60 per diluted share, for the quarter ended Oct. 2. A year earlier it earned $112 million, or $0.75 a share. Non-GAAP diluted earnings came to $49.51 per share, up 26% from the fiscal fourth quarter.

"We have started fiscal year 2027 with another quarter of strong performance, with robust and growing demand for our products driving outpaced growth in our data center business," Chairman and CEO David Goeckeler said in the release.

Data center sales jump 61%

Datacenter revenue climbed 61% from the prior quarter to $4.80 billion, from $269 million in the same quarter a year earlier. Edge revenue rose 7% sequentially to $5.83 billion, while Consumer revenue fell 29% to $397 million.

Gross margin reached 85.0% on a GAAP basis, up from 84.6% in the fiscal fourth quarter and 29.8% a year earlier. Operating income rose 25% sequentially to $8.78 billion.

By the numbers

• Revenue: $11.03 billion, up 23% sequentially and 378% year over year
• GAAP diluted EPS: $52.60, vs. $43.97 last quarter
• Non-GAAP diluted EPS: $49.51, vs. $39.25
• GAAP gross margin: 85.0%
• Datacenter revenue: $4.80 billion, up 61% sequentially

Stock split and buybacks

Sandisk's board approved an eight-for-one forward split of its common stock, which the company said is meant to make the stock more accessible, including to employees through its employee stock purchase plan.

Stockholders of record at the close of business on Nov. 9 will receive seven additional shares for each share held, issued after the market close on Thursday, Nov. 19. Trading on a split-adjusted basis is expected to begin at the market open on Friday, Nov. 20, under the existing SNDK symbol, according to the 8-K.

The split will be carried out through a charter amendment that raises the number of authorized common shares to 3.6 billion from 450 million. The company said its overall market capitalization and stockholders' ownership percentages will not be affected.

Sandisk returned $5.0 billion to stockholders in the quarter by repurchasing about 3.2 million shares. Over the past two fiscal quarters it has bought back 6.0 million shares, about 4% of shares outstanding.

Second-quarter outlook

For the fiscal second quarter, Sandisk expects revenue of $12.2 billion to $12.6 billion and non-GAAP diluted earnings of $55.00 to $57.00 per share on a pre-split basis, with about 151 million diluted shares.

It guided to GAAP gross margin of 84.4% to 85.4% and non-GAAP gross margin of 84.5% to 85.5%. All per-share figures in the release are presented on a pre-split basis, the company said.

Goeckeler said Sandisk is executing on the strategy it outlined at its Investor Day, "delivering growing and durable free cash flow through our technology leadership, deep customer partnerships, and disciplined financial management."

Sources

1. Sandisk Form 8-K with fiscal first-quarter 2027 earnings release (Exhibit 99.1) and stock split announcement (Item 8.01), filed Oct. 29, 2026 (accession 0001628280-26-068243)

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