SanDisk reported Q1 FY2027 results after the US market closed on October 29: revenue rose 23% from the previous quarter to $11.03 billion and non-GAAP EPS reached $49.51, both above estimates. It guidSanDisk reported Q1 FY2027 results after the US market closed on October 29: revenue rose 23% from the previous quarter to $11.03 billion and non-GAAP EPS reached $49.51, both above estimates. It guid
SanDisk (SNDK) Q1 FY2027 Earnings: Revenue Hits $11 Billion, Guidance Tops Estimates and an 8-for-1 Stock Split
SanDisk reported Q1 FY2027 results after the US market closed on October 29: revenue rose 23% from the previous quarter to $11.03 billion and non-GAAP EPS reached $49.51, both above estimates. It guided Q2 revenue of $12.2 billion to $12.6 billion, only about 1% above forecasts, and announced an eight-for-one stock split. SNDK had already fallen 5.3% during the session, and the stock swung between gains and losses after hours.
What did SanDisk report for Q1 FY2027?
According to the SanDisk Q1 FY2027 release, for the quarter that ended October 2, 2026:
- Revenue: $11.03 billion, up 23% from Q4 FY2026 and 378% from a year earlier
- Datacenter: $4.80 billion, up 61% from the previous quarter, and now 44% of revenue against 33% in Q4
- Edge: $5.83 billion, up 7%
- Consumer: $397 million, down 29%
- Non-GAAP gross margin: 85.1%, against 84.6% in Q4
- Non-GAAP operating income: $8.87 billion, an 80.4% operating margin
- EPS: $52.60 on a GAAP basis and $49.51 on a non-GAAP basis, against $39.25 non-GAAP in Q4
- Buybacks: $5.0 billion, or about 3.2 million shares. Over two quarters SanDisk has bought back about 4% of its shares
- Free cash flow: $6.31 billion, with $5.14 billion of cash at quarter-end
About 40% of the sequential revenue increase came from higher prices and 60% from higher volume, according to SanDisk's earnings presentation. SanDisk said the consumer market is still adjusting to higher prices.
Did SanDisk beat earnings estimates?
Yes, on both lines. Revenue of $11.03 billion beat the $10.7 billion consensus by about 3%, and non-GAAP EPS of $49.51 beat the $47.15 estimate by about 5%, according to Investing.com. Revenue also cleared the top of SanDisk's own $10.3 billion to $10.8 billion guidance.
The beat was smaller than in August, when Q4 FY2026 revenue of $8.97 billion beat the LSEG estimate by about 7%. Our Q4 FY2026 earnings recap covers that quarter.
What is SanDisk's Q2 FY2027 guidance?
- Revenue: $12.2 billion to $12.6 billion, up about 12% from Q1 at the midpoint
- Non-GAAP gross margin: 84.5% to 85.5%
- Non-GAAP EPS: $55.00 to $57.00 on a pre-split basis, with about 151 million diluted shares
The $12.4 billion revenue midpoint is above the $12.23 billion analysts expected, and the $56 EPS midpoint is above the $53.30 estimate, according to Yahoo Finance. The revenue gap is about 1.4%.
That gap matters for the stock. In our SanDisk Q1 FY2027 earnings preview, we noted that SNDK rose the next day after every report where guidance was 10% or more above consensus, and fell after the two reports where it was 8% and 1% above. This quarter's guidance sits in the second group. On the earnings call, management said Q2 growth will come from both price and volume, with prices rising modestly through the year.
What are SanDisk's stock split details?
SanDisk's board approved an eight-for-one forward stock split, which the company said is meant to make the shares more accessible, including to employees:
- Record date: November 9, 2026
- Distribution: seven additional shares for each share held, issued after the close on November 19
- Split-adjusted trading: begins at the market open on November 20
The split does not change SanDisk's market value. After November 20, the share price, EPS and guidance will be about one-eighth of the pre-split figures used in this article. Traders holding SNDKSTOCK_USDT should watch MEXC announcements before November 20 for any change to the contract.
How did SanDisk stock react to earnings?
SNDK fell 5.32% to $1,330.05 in the regular session on October 29, before the results came out. After hours, reports of its move ranged from a 2.42% gain, according to Benzinga, to a further 2.63% drop to $1,295.05, according to Investing.com, depending on when the price was taken.
The pattern matches August. Then, SNDK fell 5.4% during the session before the release and closed down 6.81% the next day, because guidance only matched expectations.
How did SNDKSTOCK_USDT trade on MEXC?
MEXC's SanDisk perpetual futures contract, SNDKSTOCK_USDT (1 contract = 0.001 SNDK), trades 24/7, so it shows the full reaction while Nasdaq is closed. The contract stood at 1,332.00 USDT at the 4:00 p.m. ET close. In the first hour after the release, it rose as high as 1,377.03 USDT, up 3.4%, and dropped as low as 1,271.29 USDT, down 4.6%, before ending the hour at 1,308.76 USDT, down 1.7%. Volume in that hour was about 8 times the hour before.
After that, the contract drifted lower through the earnings call. At 9:16 p.m. ET (9:16 a.m. Beijing time on October 30), it was at 1,271.04 USDT, down 4.6% from the close (MEXC).
Prices on a 24/7 contract can move sharply when the US market is closed, because fewer orders are on the book. You can trade the move on the SNDKSTOCK_USDT futures page, and our guide on how to trade stock futures on MEXC covers margin and liquidation.
What did SanDisk say about long-term contracts and data center demand?
- Long-term agreements: eight customers have signed what SanDisk calls New Business Model agreements, with $93.9 billion of minimum contracted revenue at floor prices and $16.5 billion of financial guarantees, according to the earnings presentation
- Coverage: the agreements cover about half of SanDisk's fiscal 2027 bit supply and about two-thirds of fiscal 2028
- Data center demand: SanDisk expects data center bit demand to grow about 40% in calendar 2027
- Products: SanDisk taped out its first high-bandwidth flash (HBF) die in the quarter and expects samples next year
- Capex: spending was 3.4% of revenue on a gross basis and will rise to a mid-single-digit percentage for fiscal 2027
How do SanDisk's results compare with SK hynix and Samsung?
All three memory makers have now reported for the July–September quarter, and all three posted record results. SK hynix said sales of its data center SSDs expanded and that long-term contracts cover more than half of its 2027 and 2028 capacity. SanDisk's numbers show the same shift: its datacenter revenue grew 61% in one quarter, and its long-term agreements cover a similar share of future supply. Read our SK hynix Q3 2026 earnings and Samsung Electronics Q3 2026 earnings articles for their results.
For past reactions and the next report date, see our SanDisk earnings date page.
FAQ
When did SanDisk report Q1 FY2027 earnings?
SanDisk reported Q1 FY2027 results after the US market close on Thursday, October 29, 2026, and held its earnings call at 1:30 p.m. PT (4:30 p.m. ET), which is 4:30 a.m. on Friday, October 30, in Beijing, Hong Kong and Singapore.
Did SanDisk beat Q1 FY2027 earnings expectations?
Yes. Revenue of $11.03 billion beat the $10.7 billion consensus, and non-GAAP EPS of $49.51 beat the $47.15 estimate. Revenue rose 23% from the previous quarter.
What is SanDisk's guidance for Q2 FY2027?
SanDisk expects Q2 FY2027 revenue of $12.2 billion to $12.6 billion and non-GAAP EPS of $55.00 to $57.00 on a pre-split basis. The revenue midpoint of $12.4 billion is about 1.4% above the $12.23 billion consensus.
When is the SanDisk stock split?
SanDisk's eight-for-one stock split goes to shareholders of record on November 9, 2026. The new shares are distributed after the close on November 19, and split-adjusted trading starts on November 20.
Why did SanDisk stock fall after earnings?
SanDisk beat revenue and EPS estimates, but its Q2 revenue guidance was only about 1% above consensus. After reports with a similar small gap, the stock has fallen the next day, and MEXC's SNDK futures were down 4.6% by 9:16 p.m. ET.
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The articles shared on this page are sourced from public platforms and are provided for reference only. They do not represent the position or views of MEXC. All rights belong to James Mitchell. If you believe any content infringes upon the rights of a third party, please contact [email protected] for prompt removal. MEXC does not guarantee the accuracy, completeness, or timeliness of any content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be interpreted as a recommendation or endorsement by MEXC. For expert insights and in-depth analysis, visit MEXC Learn.
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