SanDisk Beats Estimates, Shares Soar

By Jeremy C. OwensMarketWatch Pulse

Struggling flash-memory company SanDisk appeared to get back on track in the second quarter, beating analysts' expectations for profit and revenue. The company reported net income of $81 million, or 38 cents a share, on sales of $1.24 billion; after adjustments, SanDisk claimed profit of 66 cents a share. While the results reflected large declines from the same quarter a year ago, they were better than expected: Analysts surveyed by FactSet projected adjusted earnings of 34 cents a share on revenue of $1.2 billion. SanDisk stock gained more than 7% to top $58 in immediate after-hours trading, after closing with a 2.3% decline at $54.18. The stock has fallen 44.7% in 2015.

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