SanDisk Rises After Earnings

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SanDisk
SNDK
released its second quarter earnings results after the closing bell on Thursday. The company reported EPS of $1.14, which compares to Wall Street consensus estimates of $0.99. Revenues came in at $1.38 billion versus consensus revenue estimates of $1.34 billion. In the after hours trading session, SNDK shares have risen 2.84% to $42.75. “We delivered record quarterly revenue, driven by our broad product offerings and our well diversified Retail and OEM channels,” said Sanjay Mehrotra, President and CEO, SanDisk. “Solid execution on product cost reductions enabled strong profitability. Our integration of Pliant Technology is progressing well and we are excited by our business prospects in the enterprise storage segment.” SanDisk Corporation (SanDisk) is engaged in designing, developing and manufacturing data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. The Company operates through flash memory storage products segment.
Posted In: EarningsNewsGuidanceAfter-Hours CenterMoversComputer Storage & PeripheralsInformation Technology
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