Here’s my take on the Sandisk report…
Sandisk beats by nearly 20% on the bottom line and a few percent on the topline. Here are the details:
Revenue of $1.38 billion, up from $1.18 billion in the prior year’s quarter and above analysts’ estimate of $1.34 billion. Earnings of $1.14 a share, compared to $1.08 a share in the same period last year. Consensus had been looking for $1 a share.
Cash and equivalents of $5.28 billion, up from $3.72 billion at the end of the same period last year.
“Our growth came from the mobile market –smartphones and tablets,” said Sanjay Mehrotra, SanDisk CEO said in an interview on CNBC after the numbers were announced.
Hmm, growth in smartphones and tablets? Who woulda thunk it?
The stock’s trading up about a buck after hours, but we’ll have to see how the sell side responds tonight and how the stock trades in the morning. I will be likely be looking to trim some calls tomorrow, but I won’t know til I see how the prices play out at that point.
No rest for the weary.
