Memory stock company Sandisk again posted quarterly revenue and per-share profit well ahead of expectations, but its shares zigzagged in afternoon trading, suggesting investors wanted more.

After wobbling, the stock was down more than 4% in late afternoon trading. Shares closed the regular session down 5.3% at $1,330.05 on Thursday.

Sandisk's board of directors approved an 8-for-1 stock split, saying that additional shares are expected to be distributed Nov. 19, with split-adjusted trading to begin Nov. 30.

For its fiscal first quarter, Sandisk reported adjusted earnings of $49.51 a share on revenue of $11.03 billion, up 378% from a year ago, and well above the adjusted EPS of $46.67 and $10.7 billion revenue Wall Street was expecting. Adjusted gross margin of 85.1%, up from 29.9% in the year-ago first quarter, beat the 84% analysts expected.

Data center revenue soared 1,682% from a year ago, to $4.8 billion, above analysts' projections for $3.98 billion, according to FactSet.

Revenue from Edge, a line of commercial flash memory products for smartphones, PCs, automotive, tablets, and physical AI applications, rose 320% from a year ago, to $5.8 billion, which actually missed expectations for $6.07 billion.

Consumer revenue fell 39% to $397 million, also missing the $590 million expected.

"Our confidence in the long-term trajectory of the business is grounded in three enduring strengths: technology leadership, deep consumer partnerships, and disciplined financial management," Sandisk said. It also sees a structural, AI-driven increase in demand for NAND memory extending beyond fiscal 2030.

For its current fiscal second quarter ending in December, Sandisk expects revenue of $12.2 billion to $12.6 billion and adjusted earnings of $55.00 to $57.00 a share. Its estimate of gross margin between 84.4% and 85.4% is above analysts' expectations for 84% gross margin.

Wall Street is projecting quarterly revenue of $12.31 billion and adjusted EPS of $53.60. Of that revenue, analysts expect data center revenue of $4.99 billion, Edge revenue of $6.35 billion, and consumer revenue of $613 million.

Shares of Sandisk's rivals also fell before it reported earnings. Micron Technology closed down 4.9% at $934.27; and Western Digital closed down 0.3%, at $395.41. But Seagate Technology closed up 0.4% at $700.47, and Micron.

Sandisk's stock is up 460% through Thursday's close and up 579% over the past 12 months.