SanDisk Corp. (SNDK) reported first quarter non-GAAP net income of $0.84 per share after the bell Wednesday, up from $0.63 per share last year. Revenues increased by 11% to $1.34 billion. The consensus estimates were for EPS of $0.77 and revenues of $1.30 billion.
SanDisk declined during the first 45 minutes of trade Thursday and slipped further around mid-afternoon. The stock ended the day lower by 3.70 at $52.02 on strong volume. SanDisk fell to over a 1-month low and dropped below its 50-day moving average.
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