SanDisk Leaves Estimates in Dust
SanDisk (SNDK:Nasdaq - commentary - research - Cramer's Take) on Thursday almost doubled third-quarter earnings compared with a year ago on a 45% jump in sales, blowing past analysts' estimates. SanDisk said stronger-than-expected sales into the handset market drove its 20-cent upside surprise. The company forecast a sequential increase in license and royalty revenue and a more than 40% sequential jump in megabytes sold, but that will be offset by higher operating expenses and price declines.
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