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AP National Business

NetApp: Fiscal Q3 Earnings Snapshot

KION
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Published 1:10 PM

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — NetApp Inc. (NTAP) on Wednesday reported fiscal third-quarter net income of $65 million.

The San Jose, California-based company said it had net income of 30 cents per share. Earnings, adjusted for restructuring costs and stock option expense, came to $1.37 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.

The data storage company posted revenue of $1.53 billion in the period, which missed Street forecasts. Eleven analysts surveyed by Zacks expected $1.62 billion.

For the current quarter ending in April, NetApp expects its per-share earnings to range from $1.30 to $1.40. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.34.

The company 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

Article Topic Follows: AP National Business

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