Sandisk shares climbed in extended trading following the release of solid third-quarter financial results that beat analyst expectations across the board, alongside an announcement for an upcoming stock split.
The NAND flash memory maker, which has benefited from robust demand tied to the artificial intelligence data center boom, reported revenue of $11 billion alongside earnings of $52.60 per share. Both figures outperformed consensus estimates compiled by S&P Global Market Intelligence, which had projected $10.7 billion in revenue and $47.15 per share in earnings.
In addition to the strong quarterly performance, Sandisk announced plans to enact an eight-for-one stock split that is scheduled to take effect on November 19. The company also issued fiscal second-quarter guidance projecting revenue between $12.2 billion and $12.6 billion, with adjusted earnings guidance set between $55.00 and $57.00 on a pre-split basis.
