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.
ALSO READ: Top Internet Stocks to Buy That May Deliver Solid Earnings
Top Gaining Stocks
Top Losing Stocks