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Quarterly Results of Operations (unaudited) | 12 Months Ended
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Jun. 27, 2025
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations (unaudited) | Quarterly Results of Operations (unaudited) As discussed in Note 1, as a result of the Separation, the historical net income (loss) of Sandisk is reported in the Company’s consolidated financial statements as discontinued operations. The below provides unaudited summarized quarterly financial information on this basis to allow for a meaningful comparison of continuing operations:
| First |  | Second |  | Third |  | Fourth
| (in millions, except per share amounts)
2025 |  |  |  |  |  |  |
Revenue, net | $ | 2,212 |  |  | $ | 2,409 |  |  | $ | 2,294 |  |  | $ | 2,605 |
Gross profit | 806 |  |  | 907 |  |  | 912 |  |  | 1,067 |
Net income from continuing operations | 153 |  |  | 466 |  |  | 772 |  |  | 252 |
Net income | 493 |  |  | 594 |  |  | 520 |  |  | 282 |
Net income per common share: |  |  |  |  |  |  |
Continuing operations - basic | $ | 0.43 |  |  | $ | 1.32 |  |  | $ | 2.17 |  |  | $ | 0.70 |
Earnings per common share - basic | 1.40 |  |  | 1.68 |  |  | 1.46 |  |  | 0.78 |
Continuing operations - diluted | 0.42 |  |  | 1.28 |  |  | 2.11 |  |  | 0.67 |
Earnings per common share - diluted | 1.35 |  |  | 1.63 |  |  | 1.42 |  |  | 0.75 |
| First |  | Second |  | Third |  | Fourth
| (in millions, except per share amounts)
2024 |  |  |  |  |  |  |
Revenue, net | $ | 1,194 |  |  | $ | 1,367 |  |  | $ | 1,752 |  |  | $ | 2,004 |
Gross profit | 244 |  |  | 313 |  |  | 519 |  |  | 697 |
Net income (loss) from continuing operations | (365) |  |  | (146) |  |  | (8) |  |  | (246) |
Net income (loss) | (685) |  |  | (287) |  |  | 135 |  |  | 39 |
Net income (loss) per common share: |  |  |  |  |  |  |
Continuing operations - basic | $ | (1.18) |  |  | $ | (0.49) |  |  | $ | (0.07) |  |  | $ | (0.77) |
Earnings (loss) per common share - basic | (2.17) |  |  | (0.92) |  |  | 0.35 |  |  | 0.08 |
Continuing operations - diluted | (1.18) |  |  | (0.49) |  |  | (0.07) |  |  | (0.77) |
Earnings (loss) per common share - diluted | (2.17) |  |  | (0.92) |  |  | 0.35 |  |  | 0.08 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1B Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 270 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/270/tableOfContent + Details
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