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Sandisk forecasts upbeat quarterly revenue on AI-driven demand
['Anhata Rooprai', 'Stephen Nellis', 'Wed', 'August At Pm Gmt', 'Min Read']
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By Anhata Rooprai and Stephen NellisAug 5 (Reuters) - Sandisk forecast quarterly revenue above estimates on Wednesday, banking on rising demand for its memory chips used in AI data centers.
In an interview with Reuters, CEO David Goeckeler said the company has shifted its sales toward long-term, rather than quarterly, purchase agreements.
• Quarterly adjusted profit is expected to be between $44 and $46 per share, above estimates of $43.12.
• Sandisk reported fourth-quarter revenue of $8.97 billion, beating estimates of $8.39 billion.
• Sandisk's board approved an additional $14 billion share repurchase program, bringing its total remaining buyback authorization to $15.5 billion.