SanDisk 2Q profit climbs 4.6 percent to $273.9 million, beats estimate

Markets Associated Press

SanDisk Corp. (SNDK) on Wednesday reported earnings that climbed by 4.6 percent in its second quarter, and topped analysts' expectations.

Continue Reading Below

The Milpitas, California-based company said profit increased to $273.9 million, or $1.14 per share, from $261.8 million, or $1.06 per share, in the same quarter a year ago.

Earnings, adjusted for one-time gains and costs, came to $1.41 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.

The company said revenue rose 11 percent to $1.63 billion from $1.48 billion in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $1.6 billion, according to Zacks.

SanDisk shares have increased $37.29, or 53 percent, to $107.83 since the beginning of the year, while the Standard & Poor's 500 index has risen 7.2 percent. The stock has risen $48.39, or 81 percent, in the last 12 months.

This story was generated automatically by Automated Insights ( using data from Zacks Investment Research. Full SNDK report:

Continue Reading Below


Keywords:SanDisk,Earnings Report