MILPITAS, Calif. – SanDisk Corp. (SNDK) on Wednesday reported earnings that climbed by 4.6 percent in its second quarter, and topped analysts' expectations.
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 (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full SNDK report: http://www.zacks.com/registration/pfp/?ALERT=ZER_LINK&adid=ASSOCPRESS_CONTENT_ZER&d_alert=rd_final_rank&t=SNDK