NetApp: Fiscal Q2 Earnings Snapshot

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.

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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

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