Investing.com -- SanDisk Corporation (NASDAQ: SNDK) shares jumped around 6% in after-hours trading Thursday after the flash storage provider reported first-quarter results that exceeded expectations and issued guidance that significantly surpassed analyst estimates.

The company reported first-quarter adjusted earnings of $1.22 per share, beating analyst expectations of $0.89, while revenue reached $2.31 billion, above the consensus estimate of $2.15 billion. Revenue increased 23% YoY and 21% sequentially, exceeding the company’s guidance range. The strong performance was driven by robust demand across multiple segments, particularly in edge and consumer markets, which saw YoY growth of 30% and 27% respectively.

For the second quarter, Sandisk provided surprisingly strong guidance, projecting revenue between $2.55 billion and $2.65 billion, well above the analyst consensus of $2.32 billion. The company expects adjusted earnings per share of $3.00 to $3.40, dramatically higher than the $1.79 analysts had forecast.

"Customers are turning to Sandisk for our leading technology and products, which are exceptionally well positioned at a time when demand is strengthening," said David Goeckeler, CEO of Sandisk. "Our strong balance sheet and leading portfolio, combined with this phase of renewed growth and profitability, enabled us to achieve our net cash positive milestone ahead of plan."

Datacenter revenue increased 26% sequentially to $269 million, though it was down 10% YoY. The company noted it has two hyperscalers in qualification, with a third hyperscaler and top storage OEM planned for calendar year 2026.

Sandisk’s BiCS8 technology accounted for 15% of total bits shipped during the quarter, with the company expecting this to reach the majority of bit production by the end of fiscal year 2026.

The company, which completed its separation from Western Digital Corporation in February 2025, reported it achieved its net cash positive milestone ahead of schedule, positioning it for long-term value creation.