Sandisk Corporation (NASDAQ:SNDK) shares are trading higher Friday after the company reported better-than-expected second-quarter financial results and issued third-quarter guidance above estimates on Thursday after the market closed.
Earnings Beat Estimates, Datacenter Revenue Jumps & Guidance Tops Consensus
The company reported adjusted earnings per share of $6.20, beating the consensus estimate of $3.12. In addition, Sandisk posted revenue of $3.02 billion, beating the consensus estimate of $2.59 billion.
Sandisk said datacenter revenue jumped 64% sequentially in the second-quarter, driven by strong adoption among AI infrastructure builders, semi-custom customers and technology companies deploying AI at scale.
The company attributed the quarter's performance to improved product mix, accelerating enterprise SSD deployments, and strengthening market demand dynamics. Management said these trends reflect growing recognition of the role its products play in powering AI and global technology platforms.
Sandisk sees third-quarter adjusted earnings per share of $12.00 to $14.00, versus the consensus estimate of $3.63. Furthermore, the company expects revenue from $4.40 billion to $4.80 billion, versus the consensus estimate of $2.62 billion.
CEO David Goeckeler said the company's structural reset to better align supply with sustained demand positions Sandisk to drive disciplined growth and deliver industry-leading financial performance.
Sandisk Shares Soar Higher
SNDK Price Action: At the time of writing, Sandisk shares are trading 23.35% higher at $645.21, according to data from Benzinga Pro.
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