SanDisk's Fiscal 2027 Q1 earnings: revenue hit $11 billion, up 23% quarter-over-quarter, and the company announced an 8-for-1 stock split.

SanDisk announced its results for the first quarter of fiscal 2027, reporting revenue of approximately $11 billion, up 23% quarter-over-quarter and around 378% year-over-year. Non-GAAP diluted earnings per share (EPS) stood at $49.51, with an adjusted gross margin of roughly 85.1%. The company repurchased about 3.2 million shares during the quarter at a cost of approximately $5 billion. It cited strong demand for data center-related products as driving its business growth. SanDisk projected second fiscal quarter revenue of $12.2 billion to $12.6 billion, with non-GAAP diluted EPS of $55 to $57 on a pre-split basis. Concurrently, the company announced an 8-for-1 forward stock split, with a record date of November 9. Additional shares will be distributed to shareholders after the close of trading on November 19, and trading is expected to commence at the post-split price starting from the opening on November 20. According to data from the BIT Stock Platform, SanDisk (SNDK) closed down 5.32% and fell an additional 3.77% in consecutive trading sessions.