Morningstar

Sandisk Profit Soars as AI Demand Drives Up Prices

Provided by Dow Jones

By Nicholas G. Miller 




  Sandisk reported exponentially higher fiscal first-quarter profit as the AI buildout drives memory demand skyward. 



  The company posted net income of $8.1 billion, or $52.60 a share, up from $112 million, or 75 cents a share, the year prior. 



  Adjusted earnings were $49.51 a share. Analysts polled by FactSet expected $46.67 a share. 



  Revenue soared to $11.03 billion from $2.31 billion. Wall Street expected $10.72 billion. 



  The company guided for second-quarter revenue of $12.2 billion to $12.6 billion and adjusted earnings of $55 to $57 a share. Analysts see second-quarter revenue of $12.31 billion and adjusted earnings of $53.60 a share. 



  Hyperscalers have been willing to pay high prices for data storage, transforming the businesses of providers like Sandisk. Capacity has remained constrained, giving suppliers significant leverage in price negotiations with customers. 





  Write to Nicholas G. Miller at nicholas.miller@wsj.com. 





  (END) Dow Jones Newswires



  October 29, 2026 16:34 ET (20:34 GMT)


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