Storage companies SanDisk and Western Digital posted results for the latest quarter that beat market expectations.
On Jan. 29, the companies said SanDisk posted fiscal second-quarter revenue of $3.025 billion, up 31 percent, and adjusted earnings per share of $6.20. Both revenue and profit far exceeded analysts' estimates.
Rising demand from AI and cloud data centres pushed up flash storage prices and lifted results. Data centre revenue rose 76 percent from a year earlier to $440 million, while the edge and consumer segments grew 63 percent and 61 percent, respectively.
Western Digital also beat market expectations, posting fiscal second-quarter revenue of $3.017 billion, up 25 percent from a year earlier, and adjusted earnings per share of $2.13. Cloud segment revenue rose 27.5 percent to $2.673 billion.
Western Digital forecast adjusted earnings per share of $2.30 and revenue of $3.2 billion for the third quarter.
Chi-gyu Hwang
delight@d-today.co.kr