NetApp: Fiscal 2Q Earnings Snapshot

November 13, 2019 GMT

SUNNYVALE, Calif. (AP) _ NetApp Inc. (NTAP) on Wednesday reported fiscal second-quarter profit of $243 million.

On a per-share basis, the Sunnyvale, California-based company said it had net income of $1.03. Earnings, adjusted for one-time gains and costs, were $1.09 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The data storage company posted revenue of $1.37 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $1.39 billion.

For the current quarter ending in February, NetApp expects its per-share earnings to range from $1.14 to $1.22. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.19.

The company said it expects revenue in the range of $1.39 billion to $1.54 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1.5 billion.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NTAP at https://www.zacks.com/ap/NTAP