Investing.com -- Sandisk on Thursday reported 251% jump in its third quarter revenue that sailed past Wall Street expectations helped by strong demand for datacenter offerings and higher prices.

The company said its third quarter revenue was $5.95 billion, jumping 251% from the year-ago quarter. It also sailed past analyst estimates of $4.73 billion.

“This quarter marks a fundamental inflection point for Sandisk — where our technology leadership is enabling a deliberate shift in our mix toward the highest-value end markets, led by Datacenter,” said David Goeckeler, CEO of Sandisk.

SanDisk also reported adjusted earnings per share of $23.41, $8.75 better than the analyst estimate of $14.66.

Wall Street has grown increasingly bullish on SanDisk in recent weeks, citing tight NAND supply, strong AI infrastructure demand for memory. Investors are looking at SanDisk’s enterprise solid-state drive business, which analysts say is poised for share gains. The upcoming ramp of BiCS8-based QLC enterprise SSDs is expected to reinforce SanDisk’s data center bit growth, average selling price tailwinds and margin expansion.

The company said it expects fourth quarter revenue to be in the range of $7.75 billion to $8.25 billion, with expected Non-GAAP diluted net income per share to be in the range of $30.00 to $33.00.