Time for a SanDisk Breather After Earnings
SanDisk has reported its results for the second quarter of 2014. The independent flash memory leader did not offer its guidance in the press release, so investors had to wait for the conference call.
SanDisk Corp. (NASDAQ: SNDK) has reported its results for the second quarter of 2014. The independent flash memory leader reported $1.41 in its adjusted operating earnings per share (EPS) and $1.63 billion in revenue. Thomson Reuters had consensus earnings estimates of $1.39 EPS (versus $1.21 last year) and $1.6 billion in revenue (up over 8% from last year).
SanDisk did not offer its guidance in the press release, so investors had to wait for the conference call. Its estimates for the next quarter are $1.57 EPS and $1.74 billion in revenue, and for 2014 the consensus estimates are $6.09 EPS and $6.73 billion in revenues.
SanDisk’s stock performance ahead of earnings created a conundrum for investors. Coming into this week, SanDisk’s stock was up almost 40% in the past quarter, and its stock was up by almost 50% since the end of 2013 — and shares had doubled off the 52-week low.
Unfortunately, the report so far is not good enough to please the SanDisk bulls. The stock closed up over 2% at $107.83 on the day, near an all-time high. The after-hours reception had shares down almost 6% at $101.25.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
