Sandisk reports Q1 revenue up 378% YoY to $11B, vs. $10.7B est., forecasts Q2 revenue above est., announces an 8-for-1 stock split; SNDK drops 4%+ after hours

The stock split makes SanDisk shares more accessible to a wider range of investors.

SanDisk reported its first quarter fiscal 2026 results, with revenue reaching $11.03 billion, a 378% increase year-over-year, surpassing the analyst consensus estimate of $10.7 billion. The company also provided a forecast for the second quarter of fiscal 2026, predicting revenue that exceeds current estimates. In addition to its financial performance, SanDisk announced an eight-for-one stock split. Despite these positive announcements, the company's stock experienced a decline of over 4% in after-hours trading.

SanDisk's substantial year-over-year revenue growth indicates a significant expansion in its market presence or demand for its products. The beat on revenue estimates and positive Q2 forecast suggest strong ongoing momentum. This performance could signal increased investor confidence in the memory chip sector, especially if attributed to factors like AI-driven demand or market share gains.

The announcement of an 8-for-1 stock split, while not changing the company's fundamental value, can historically lead to increased trading volume and perceived affordability for retail investors. The post-earnings stock dip, however, might reflect broader market sentiment, profit-taking, or specific investor concerns not detailed in the initial report.