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SanDisk Profit Expected to Slip

This article is more than 8 years old.

Despite an expected dip in profit, analysts are generally optimistic about SanDisk as it prepares to reports its second-quarter earnings on Wednesday, July 22, 2015. The consensus earnings per share estimate is 20 cents per share.

Analysts are projecting earnings of $2.41 per share for the fiscal year. Analysts look for revenue to decrease 27% year-over-year to $1.19 billion for the quarter, after being $1.63 billion a year ago. For the year, revenue is expected to come in at $5.54 billion.

Revenue dropped year-over-year in the first quarter, breaking the three-quarter streak of revenue growth.

Over the last four quarters, revenue has fallen an average of less than a percent year-over-year. The biggest drop came in the most recent quarter, when revenue fell 18% from the year-earlier quarter.

The majority of analysts (52%) rate SanDisk as a buy. That percentage is still below the mean analyst rating of nine similar companies, which average 69% buys.

SanDisk is a multinational corporation whose main focus is the design, development, manufacturing and marketing of flash memory card products. Its data-storage solutions include removable cards and universal serial bus (USB) drives, which can be used in a wide gamut of consumer electronics products, such as digital cameras and mobile phones. EMC, also in the computer storage devices industry, will report earnings on Wednesday, July 22, 2015. Analysts are expecting earnings of 31 cents per share for EMC, down 6% from last year's earnings of 33 cents per share. Other companies in the computer storage devices industry with upcoming earnings release dates include: Quantum, Seagate Technology and Hutchinson Technology.

Earnings estimates provided by Zacks.

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