Tue, Nov 29, 2022 1:19 PM
STATS Perform dba Automated Insights
SAN JOSE, Calif. (AP) _ NetApp Inc. (NTAP) on Tuesday reported fiscal second-quarter earnings of $750 million.
On a per-share basis, the San Jose, California-based company said it had profit of $3.41. Earnings, adjusted for non-recurring gains, came to $1.48 per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.
The data storage company posted revenue of $1.66 billion in the period, missing Street forecasts. Eleven analysts surveyed by Zacks expected $1.67 billion.
For the current quarter ending in January, NetApp expects its per-share earnings to range from $1.25 to $1.35. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.34.
The company said it expects revenue in the range of $1.53 billion to $1.68 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1.66 billion.
NetApp expects full-year earnings in the range of $5.30 to $5.50 per share.