Stock:
Symbol Lookup
Register | Login My Watchlist | My Account | Logout
History
to View Your Portfolio

Pre Market | Dow Jones | Gold | Newsletters | Learn


SanDisk Q3 Profit Clocks More Than Threefold Increase

Thursday, October 17, 2013 7:08 AM
SanDisk Corp. (NASDAQ: SNDK) reported late on Wednesday that fiscal third-quarter income more than trebled as the memory chipmaker sold more chips amid rising demand from smartphone and tablet makers. The Milpitas, California-based company posted a profit of $277 million or $1.18 a share for the period ended September 29 compared to an income of $76.5 million or 31 cents a share, in the year-ago period. Excluding accounting charges linked to past acquisitions and other onetime items, the company earned $1.59 a share, beating analysts’ consensus estimate of $1.31 a share, according to a data compiled by FactSet. Revenue jumped 28% to $1.63 billion which was about $60 million more than Wall Street’s consensus expectation. The latest period included proceeds from Smart Storage Systems, which the Company acquired in late August. For the current quarter, SanDisk expects revenue to be in the range of $1.65 billion to $1.73 billion. Analysts had forecasted revenue of $1.67 billion, according to poll conducted by FactSet. SanDisk, whose clientele list includes prominent buyers such as Apple Inc. (NASDAQ: AAPL), has been posting strong quarterly results in the recent past. Proliferation of smartphone usage and other devices which rely on flash memory is boosting the top line growth. Commenting over the results, SanDisk President and CEO, Sanjay Mehrotra, said “We delivered outstanding third quarter results driven by our strategy to shift to higher value solutions across our portfolio," "Our client and enterprise SSD products continue to gain momentum and our acquisition of SMART Storage Systems expands our presence in enterprise SSDs, added Mehrotra.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2016 the year you get RICH!
Is The Taiwan Earthquake Bad For Apple And Qualcomm?Is The Taiwan Earthquake Bad For Apple And Qualcomm?
Apple Inc (NASDAQ: AAPL ) shares have lost 22 percent since November 9, while shares of QUALCOMM, Inc. (NASDAQ: QCOM ) have dipped 18 percent. JPMorgan’s Rod Hall maintained Overweight rati...
Forget Apple And Google's Market Cap Battle: Wal-Mart Is The Real WinnerForget Apple And Google's Market Cap Battle: Wal-Mart Is The Real Winner
Alphabet Inc (NASDAQ: GOOGL )’s reign as the world’s largest public company was very short-lived. After the stock briefly eclipsed Apple Inc. (NASDAQ: AAPL ) as the world’s largest public company...
General Growth CEO Warns Apple Stores May Be Bogging Down GrowthGeneral Growth CEO Warns Apple Stores May Be Bogging Down Growth
According to General Growth Properties Inc (NYSE: GGP ) CEO Sandeep Mathrani, Apple Inc. (NASDAQ: AAPL )`s bricks and mortar sites may be negatively impacting retail store sales growth. Accord...
Mark Cuban Says Political Trolls Put 'Apple Fanboys To Shame'Mark Cuban Says Political Trolls Put 'Apple Fanboys To Shame'
Mark Cuban might already be a little bit tired of the 2016 Presidential election. "The fanboy and fangirliness of political followers puts Apple fanboys to shame. This elections has taken twitter tr...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.

{localized={en_US=Terry}, preferredLocale={country=US, language=en}} {localized={en_US=Scott}, preferredLocale={country=US, language=en}}

Terry Scott
CEO of StockMarketWatch

View Profile


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Be a Better
Trader, Today
arrow
PreMarket PRO Our New Streaming Realtime Pre-Market Product -- Click Here to Learn More