SanDisk Q3 Revenue $5.95B Tops Estimates on AI Demand

SanDisk Corporation reported blockbuster fiscal third-quarter 2026 results on Thursday, surpassing Wall Street expectations with revenue of $5.95 billion and non-GAAP earnings per share of $23.41, driven by surging demand for storage solutions in data centers fueled by artificial intelligence applications.

The Milpitas, California-based flash memory company posted revenue that more than tripled year over year from $1.51 billion and flipped to a non-GAAP profit from a prior-year loss of $0.43 million per share. Results exceeded analyst consensus estimates of $4.70 billion in revenue and around $14.50 per share. Data center revenue jumped 645 percent to $1.47 billion, edge computing rose 295 percent to $3.66 billion, and consumer storage grew 44 percent to $820 million. Non-GAAP gross margin reached 78.4 percent, up sharply from 51.1 percent in the prior quarter, reflecting a favorable product mix and elevated pricing.

Chief Executive Officer David Goeckeler described the quarter as a "fundamental inflection point," highlighting the company's pivot toward multiyear supply partnerships, dubbed new business models, to curb industry cyclicality and secure predictable revenue. The...