Sandisk FY27 Q1: revenue $11.03B, EPS $52.60, Q2 guide $12.40B
Sandisk's fiscal first quarter was extraordinary on every line: $11.03 billion of revenue, up 378% year over year, an 85.0% gross margin and non-GAAP EPS of $49.51 against a $47.15 consensus. Guidance of about $12.40 billion for the December quarter keeps the momentum but halves the sequential growth rate. Read this quarter as a pricing story first and a demand story second, because that is what the numbers are.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $52.60 and non-GAAP was $49.51, against a $47.15 consensus, a 5.0% beat. GAAP ran ahead of non-GAAP mainly because a $0.51 billion mark-to-market gain on equity securities landed below the operating line. Tax consumed $1.22 billion, an effective 13.1% of pre-tax income.
Revenue of $11.03 billion rose 23.0% sequentially and 378% year over year, roughly $2.07 billion above the prior quarter. Datacenter did the heavy lifting at $4.80 billion, up 61.0% sequentially, while Edge added $5.83 billion. Consumer shrank to $0.40 billion, down 29.0% sequentially and 39.0% year over year.
Management guided fiscal Q2 revenue to $12.20–$12.60 billion, a $12.40 billion midpoint and about 12.4% sequential growth, with gross margin of 84.5%–85.5% and non-GAAP EPS of $55.00–$57.00. That is a narrower band of ±1.6% around the midpoint and no give at all in margin. The guide sits $1.37 billion above the quarter just delivered.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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