Thursday after-close earnings: Sandisk posts record quarter and 8-for-1 split; Coinbase surprise profit on crypto gains, Starbucks revenue miss, Mondelez beat, Gilead raises guidance

What happened

After Thursday's market close, a second wave of major companies reported Q3 results. Sandisk (SNDK) posted a record quarter with revenue of about $11 billion (above its $10.3B-$10.8B guidance range) and net income of $8.1 billion, up dramatically from $112 million a year earlier, and announced an eight-for-one stock split; the stock nonetheless wobbled after hours as elevated expectations limited the reaction. Coinbase (COIN) reported a surprise $2.51-per-share profit on $1.22 billion in revenue versus analyst expectations of a 23-cent loss — but nearly all of the $719 million net profit was a $715 million unrealized gain on crypto held for investment, with adjusted net income of only $77.7 million (down from $420.7 million a year earlier); shares fell roughly 2-3% after hours. Starbucks (SBUX) reported higher same-store sales as its U.S. turnaround showed progress, but overall revenue fell and missed expectations, pressured by changes in its China business; shares dropped nearly 2% after hours. Mondelez (MDLZ) recorded higher revenue and profit fueled by growth outside its core North America and Europe businesses, and the stock rose after hours. Gilead (GILD) lifted its full-year sales guidance after strong sales from its HIV portfolio, and shares gained about 2.6% after hours. (Sandisk's report was released during Thursday's after-close session but was first picked up in this sweep after falling between prior hourly windows.)

Who’s affected

• Sandisk (SNDK) — record memory quarter and 8-for-1 split reinforce AI-memory pricing power; muted after-hours reaction shows how high expectations are for memory names
• Coinbase (COIN) — headline beat masks weak operating quality; read-through to crypto-linked equities and sentiment on digital-asset businesses
• Starbucks (SBUX) — same-store sales progress offset by China weakness; read-through to U.S. consumer and restaurant names
• Mondelez (MDLZ) — international growth beat; consumer staples holding up amid tech selloff
• Gilead (GILD) — raised HIV-driven sales guidance; biotech bright spot
• Memory complex (MU, WDC, STX) — Sandisk's record quarter extends Samsung/SK Hynix validation of the memory boom

Sources

wsj.combarrons.comfool.comcoindesk.combarchart.comsmartinvestingandtrading.com