For the second quarter SanDisk reported earnings of $1.41 a share, beating analysts' estimates of $1.39 a share by 2 cents. Revenue grew 10.1% to $1.63 billion in the quarter, while analysts surveyed by Thomson Reuters expected revenue of $1.6 billion.
"We are pleased to deliver record second quarter revenue in both enterprise and client SSDs, as well as retail products," president and CEO Sanjay Mehrotr said in a press release. "SSD solutions comprised 29 percent of our second quarter revenue, compared to 16 percent in the year ago quarter, demonstrating strong progress in driving our strategic priorities. Our results position us well to deliver another record year in 2014."
Must read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates SANDISK CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation: "We rate SANDISK CORP (SNDK) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow." Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: SNDK Ratings Report