SanDisk Earnings: Here’s Why Investors are Happy Now

SanDisk Corp. (NASDAQ:SNDK) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.46%.

SanDisk Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 476.19% to $1.21 in the quarter versus EPS of $0.21 in the year-earlier quarter.

Revenue: Rose 42.99% to $1.48 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: SanDisk Corp. reported adjusted EPS income of $1.21 per share. By that measure, the company beat the mean analyst estimate of $0.93. It beat the average revenue estimate of $1.4 billion.

Quoting Management: “We delivered record second quarter results driven by increasing momentum across our business. We achieved solid revenue growth in our embedded solutions portfolio with many design wins ramping into production,” said Sanjay Mehrotra, president and chief executive officer of SanDisk. “We are excited about our pending acquisition of SMART Storage Systems, as it accelerates our growth in enterprise storage. The growth drivers of our business are vibrant and SanDisk is poised for further gains.”

Key Stats (on next page)…

Revenue increased 10.09% from $1.34 billion in the previous quarter. EPS increased 44.05% from $0.84 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.08 to a profit $1.1. For the current year, the average estimate has moved up from a profit of $4.08 to a profit of $4.15 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)