Sandisk Shares Fall 5.3% Before Results Filing as Revenue Rises 378% Year Over Year

Sandisk shares fell about 5.3% during regular trading Thursday, Oct. 29, before the company’s quarterly filing was accepted after the close, even as fiscal first-quarter revenue climbed 378% year over year.

The SEC accepted Sandisk’s Form 8-K at 4:13:53 p.m. ET (20:13:53 UTC), 13 minutes and 53 seconds after the 4 p.m. close. The stock closed at about $1,330 and stood at $1,301.92 at 4:59:35 p.m. ET in after-hours trading.

For the fiscal first quarter ended Oct. 2, Sandisk reported $11.031 billion in revenue, up 23% from the prior quarter. GAAP diluted earnings per share were $52.60, while non-GAAP diluted earnings per share were $49.51. Non-GAAP gross margin was 85.1%, and adjusted free cash flow totaled $5.696 billion.

Revenue trends differed across the company’s markets. Data center revenue rose 61% from the prior quarter to $4.802 billion, and Edge revenue increased 7% to $5.832 billion. Consumer revenue fell 29% sequentially and 39% year over year to $397 million.

Sandisk forecast fiscal second-quarter revenue of $12.2 billion to $12.6 billion and non-GAAP diluted EPS of $55 to $57. The per-share outlook uses the current, pre-split share count. Chairman and CEO David Goeckeler said, “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.”

Sandisk was among the companies scheduled to report after Thursday’s close. Its board also approved an 8-for-1 stock split.

Stockholders of record at the close of business Nov. 9 are due seven additional shares for each share held. Distribution is planned after the market closes Nov. 19, and split-adjusted trading is expected to begin at market open Nov. 20. Sandisk said the split will change the number of shares but not the company’s total market value or investors’ ownership percentages.