$5.95 billion in fiscal Q3 revenue and $23.41 adjusted EPS marked record results for Sandisk, which also approved its first stand-alone $6 billion share repurchase program.
AI-driven NAND demand powered the surge: revenue rose 97% sequentially and 251% year over year, while non-GAAP gross margin widened to 78.4% from 51.1% in the prior quarter.
Data center sales jumped 233% sequentially to about $1.5 billion, and Sandisk said five signed multiyear supply agreements carry more than $11 billion in financial guarantees.
A debt-free balance sheet with $3.7 billion in cash and Q4 EPS guidance of $30 to $33 suggest Sandisk is using the AI memory boom to lock in longer-term pricing visibility and returns.
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