SanDisk reports Q4 earnings of $43.97 per share, beats expectations

SanDisk reported fiscal fourth-quarter earnings of $43.97 per share, beating analyst expectations of roughly $34.50 on Tuesday, as surging demand for memory chips from artificial intelligence data centers powered a strong finish to a record-breaking year for the memory storage company.

The company’s Q4 revenue reached $8.97 billion, up 51 percent sequentially, with sequential revenue growth coming approximately one-third from higher volumes and two-thirds from higher pricing, according to the earnings release. GAAP net income totaled $6.90 billion for the quarter.

Datacenter revenue nearly doubled quarter-over-quarter, climbing to $2.98 billion from $1.47 billion in Q3, reflecting the intense rush by major technology companies to build out AI infrastructure. For the full fiscal year 2026, datacenter revenue surged 437 percent year-over-year to $5.15 billion, demonstrating the structural shift in demand toward AI workloads.

Data center servers with glowing LED indicators, stacked in rows under cool blue lighting, rows of equipment stretching into depth | data center hardware infrastructure

SanDisk’s full-year 2026 results underscored the magnitude of the AI memory boom. Total revenue climbed to $20.25 billion, up 175 percent year-over-year, while full-year GAAP earnings per share reached $73.76, compared to a loss of $11.32 in fiscal 2025. The company noted that it has signed ten new business model agreements since April, including three with new customers and two expanding existing partnerships.

The company’s stock had already surged roughly 25 percent in recent weeks and is up about 490 percent year-to-date, making it one of the best-performing semiconductor names as investors bet on sustained AI-driven demand for storage and memory. Demand for SanDisk’s NAND flash memory has skyrocketed as tech companies ramp up their AI infrastructure spending, according to industry observers. Analysts have linked the datacenter NAND demand to a structural supply constraint unlikely to ease before 2028.

Stock market ticker displaying semiconductor stock symbols in green and red, candlestick charts climbing upward on a dark trading terminal screen | stock market performance display

Looking ahead, SanDisk guided for fiscal first-quarter 2027 revenue between $10.30 billion and $10.80 billion, with non-GAAP earnings per share expected to be in the range of $44.00 to $46.00. The company’s board also approved an additional $14 billion share repurchase authorization, bringing the total remaining authorization to $15.5 billion.

The earnings beat caps a dramatic turnaround for the company, which separated from Western Digital in February 2025. During fiscal 2025, the company recorded a net loss, but the shift toward AI-driven demand for memory has transformed its financial trajectory in 2026.

Sources

SanDisk Investor Relations — Q4 2026 earnings report with GAAP and non-GAAP financial results, datacenter revenue breakdown, and Q1 2027 guidance
SeekingAlpha — Pre-earnings consensus analyst expectations of $34.52 EPS and analyst commentary on AI memory demand
The Globe and Mail — Analysis of AI infrastructure spending driving SanDisk NAND flash memory demand
Yahoo Finance — Stock performance data showing 25% recent surge and 490% year-to-date gain

About the author, Chris Martin

Chris Martin is a US economics and current affairs journalist covering the intersection of policy, markets, and everyday financial life. With a background in financial reporting and a sharp eye for the stories behind the numbers, Chris brings clarity to some of the most complex issues shaping the American economy today. At ECIKS.org, Chris covers breaking developments across domestic economic policy, business strategy, Wall Street movements, and political decisions that ripple through financial markets. His reporting blends rigorous data analysis with accessible storytelling making critical information useful for investors, entrepreneurs, and engaged citizens alike.