Sandisk Q3 Earnings Surge 61% Above Estimates, Revenue Up 28%, Stock Jumps 348% YTD

Context Sandisk Corporation (ticker: SNDK) reported earnings per share of $23.41 for the quarter ended March 2026, compared with a consensus forecast of $14.50. This represents an earnings surprise of +61.45%. Revenue reached $5.95 billion, exceeding the consensus estimate of $4.65 billion by 28.04%. A year ago, Sandisk posted a loss of $0.30 per share and $1.70 billion in revenue. Over the last four quarters the company has topped EPS estimates each time.

Key Facts - Q3 EPS: $23.41 vs. estimate $14.50 (+61.45% surprise). - Q3 revenue: $5.95 billion vs. estimate $4.65 billion (+28.04% beat). - Year‑to‑date stock gain: approximately 348.3% versus the S&P 500’s 4.2% rise. - Market capitalization stands at roughly $22 billion based on current share price. - The Zacks Rank for SNDK is #1 (Strong Buy), reflecting favorable earnings estimate revisions ahead of the report.

What It Means The earnings beat stems from stronger demand for NAND flash memory, higher average selling prices, and effective cost management that lifted margins. Revenue growth of 28% year‑over‑year shows the company is capturing market share in data‑center and consumer storage segments. The stock’s outsized YTD performance reflects investor confidence that these trends will continue, though the move also leaves the shares vulnerable to any shift in sentiment or supply‑chain disruptions.

What to watch next Investors should monitor Sandisk’s guidance for the upcoming quarter and any updates on capital allocation plans, as well as the direction of earnings estimate revisions that drive the Zacks Rank.