Innlegg
OKX Orbit
SanDisk’s Q1 puts data center storage at the center of its growth story, with profitability adding another dimension.
For the fiscal quarter ended Oct 2, 2026, the company reported:
• Revenue: $11.031B, up 378% YoY and 23% QoQ
• GAAP net income: $8.1B
• GAAP diluted EPS: $52.60
• Non-GAAP diluted EPS: $49.51
Revenue surpassed the top of its previous $10.3B-$10.8B guidance range. Non-GAAP EPS also exceeded its $44-$46 outlook, putting the quarter in context beyond the annual growth rate.
Data center revenue reached $4.802B, up 61% QoQ, while consumer revenue fell 29%. Management attributed the data center performance to strong and growing product demand.
The contrast highlights a shifting business mix. Infrastructure demand supported overall growth even as consumer sales weakened, making the durability of data center demand an important part of the outlook.
GAAP gross margin reached 85.0%, versus 84.6% last quarter. This adds a profitability measure to the revenue story. The next phase will show how demand, pricing and product mix affect that margin as the business expands.
For Q2, SanDisk forecasts:
• Revenue: $12.2B-$12.6B.
• Non-GAAP diluted EPS: $55-$57.
All EPS figures here are on a pre-split basis. The outlook points to further growth, but remains management guidance rather than a result already delivered.
Capital returns also stood out. SanDisk repurchased approximately 3.2M shares for $5B during Q1, bringing repurchases over two quarters to 6M shares, roughly 4% of shares outstanding.
An eight-for-one stock split was also announced, with split-adjusted trading expected to begin Nov 20. The split changes per-share figures, not the value of the business by itself.
The quarter combines rapid data center growth, high margins and a stronger revenue outlook. Sustaining that performance will depend on continued demand and execution.
Can data center momentum keep powering SanDisk’s growth into Q2?
#SanDiskQ1RevenueUp378%
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