Sandisk (SNDK) Q2 FY2026 earnings: revenue $3.0 billion, up 61.2% on the year
Sandisk Corp. (SNDK) reported revenue of $3.0 billion for Q2 FY2026, the quarter ended 2 January 2026, up 61.2% on the same quarter a year earlier. Net income was $803 million, up 672.1% on the year, and diluted earnings per share $5.15. The figures are the company's own, from the 10-Q it filed with the SEC on 30 January 2026.
Revenue
$3.0 billion
+61.2% on the year · +31.1% on the quarter
Q2 FY2024Q2 FY2026
Operating margin
35.2%
10.4% a year earlier
Q2 FY2024Q2 FY2026
Net income
$803 million
+672.1% on the year · +617.0% on the quarter
Q2 FY2024Q2 FY2026
Diluted EPS
$5.15
+615.3% on the year · +586.7% on the quarter
Q2 FY2024Q2 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 8 new.
Revenue rose 31% sequentially: Revenue was $3,025 million, up 31% from $2,308 million in the first quarter and up 61% from $1,876 million a year earlier.
Net income and EPS both rose: GAAP net income was $803 million, or $5.15 per diluted share. Non-GAAP net income was $967 million, or $6.20 per diluted share, against $1.22 in the first quarter.
Datacenter revenue up 64% sequentially: Datacenter revenue was $440 million, up from $269 million in the first quarter and $250 million a year earlier.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
1,019
488
95.0
+108.8%
+972.6%
Capital expenditure
39.0
50.0
48.0
-22.0%
-18.8%
Free cash flow
980
438
47.0
+123.7%
+1,985.1%
Free cash flow margin
32.4%
19.0%
2.5%
Cash from investing
-165
-15.0
188
Cash from financing
-758
-515
130
Depreciation and amortisation
38.0
36.0
36.0
+5.6%
+5.6%
Share-based compensation
58.0
53.0
48.0
+9.4%
+20.8%
Buybacks
n/a
0.0
n/a
Diluted shares, weighted
156m
149m
145m
+4.7%
+7.6%
Shares outstanding at period end
148m
147m
115m
+0.7%
+28.8%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
10,213
9,381
12,001
+8.9%
-14.9%
Debt
603
1,351
553
-55.4%
+9.0%
Operating lease liabilities
186
188
179
-1.1%
+3.9%
Other liabilities
1,996
1,829
1,501
+9.1%
+33.0%
Total liabilities and equity
12,998
12,749
14,234
+2.0%
-8.7%
Fixed assets
631
630
579
+0.2%
+9.0%
Goodwill
4,995
4,998
6,825
-0.1%
-26.8%
Cash and equivalents
1,539
1,442
804
+6.7%
+91.4%
Receivables
1,239
1,193
904
+3.9%
+37.1%
Inventory
1,970
1,907
2,172
+3.3%
-9.3%
Other assets
2,624
2,579
2,950
+1.7%
-11.1%
Total assets
12,998
12,749
14,234
+2.0%
-8.7%
Questions
What was Sandisk's revenue in Q2 FY2026?
Sandisk (SNDK) reported revenue of $3.0 billion for Q2 FY2026, the quarter ended 2 January 2026, up 61.2% on the same quarter a year earlier.
How much did Sandisk earn in Q2 FY2026?
Net income for Q2 FY2026 was $803 million, up 672.1% on the year, and diluted earnings per share $5.15.
When did Sandisk report Q2 FY2026 results?
Sandisk filed its 10-Q for the quarter ended 2 January 2026 with the SEC on 30 January 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 2 January 2026, filed 30 January 2026: the filing.