Sandisk reported fiscal first-quarter 2027 revenue of $11.0 billion and GAAP net income of $8.1 billion for the quarter ended October 2, 2026. It also announced an eight-for-one stock split, with split-adjusted trading expected to begin November 20.
The company paired the results with a second-quarter revenue forecast of $12.2 billion to $12.6 billion. It also highlighted substantial share repurchases over the past two quarters.
Results and outlook
- First-quarter revenue was $11.0 billion, up 23% sequentially.
- GAAP net income was $8.1 billion, or $52.60 per diluted share. Diluted earnings per share rose 20% sequentially.
- Non-GAAP diluted earnings per share were $49.51.
- For fiscal second-quarter 2027, Sandisk expects revenue of $12.2 billion to $12.6 billion.
Share repurchases
- Sandisk repurchased approximately 3.2 million shares for $5.0 billion during the quarter.
- Across the past two fiscal quarters, it bought back 6.0 million shares, equivalent to approximately 4% of total shares outstanding.
Eight-for-one stock split
- Shareholders on record at the close of business November 9, 2026 will receive seven additional shares for each share held.
- The additional shares are scheduled to be issued after the market closes on November 19. Sandisk shares are expected to begin trading on a split-adjusted basis at the market open on November 20, under the existing ticker SNDK.
- The split will be carried out through a charter amendment that increases authorized common shares from 450 million to 3.6 billion.
- Sandisk said the split is intended to make its stock more accessible, including to employees through its stock-purchase plan.
The split increases the number of shares each holder owns but does not, by itself, change that holder’s proportional ownership of Sandisk. The increase in authorized shares accommodates the split; it does not itself announce a separate sale of shares.