Sandisk (SNDK) Jumps 21.6% as Profits Spike

We recently published Millionaire Makers: 10 Stocks That Paid Off Big Last Week.  Sandisk Corporation (NASDAQ:SNDK) was one of the top performers last week.

Sandisk capped off trading higher by 21.6 percent week-on-week as investors gobbled up shares after reporting a 672 percent net income expansion and gunning for as much as a 183 percent revenue jump in the third quarter of the year.

In an updated report, Sandisk Corporation (NASDAQ:SNDK) said that net profit surged to $803 million from only $104 million in the same period last year, while operating income climbed by 446 percent to $1.065 billion from $195 million.

Photo from Sandisk’s website

Revenues, on the other hand, rose by 61 percent to $3.025 billion from $1.876 billion, with the bulk owed to the Edge segment at $1.678 billion, followed by consumer at $907 million, and data center at $440 million.

Data center revenues alone were driven by the strong adoption among AI infrastructure developers, semi-custom customers, and technology companies deploying AI at scale.

For the third quarter of the year, revenues are targeted at a range of $4.4 billion to $4.8 billion, or an implied expansion of 159 percent to 183 percent from the $1.695 billion reported in the same period a year earlier. Gross margins are expected to be at 64.9 percent to 66.9 percent.

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Disclosure: None. This article is originally published at Insider Monkey.