Market Overview

UPDATE: NetApp FQ3 Profit Up 32%

Share:
Related NTAP
Expert Sees A $25 Billion Cloud Windfall Coming For Amazon, Microsoft And Google
Tech Industry To See 330K Layoffs In 2016, Chowdhry Warns
NetApp Hosts Third Quarter Fiscal Year 2016 Financial Results Webcast (GuruFocus)

NetApp (NASDAQ: NTAP) reported a 32% rise in its fiscal third-quarter earnings.

NetApp's quarterly earnings surged to $158.1 million, or $0.43 per share, from $119.6 million, or $0.32 per share, in the year-ago period. Excluding one-time items, it earned $0.67 per share.

Its revenue rose 4.1% to $1.63 billion. NetApp in November had expected adjusted earnings of $0.53 to $0.58 per share on revenue of $1.58 billion to $1.68 billion.

Its gross margin rose to 59.2% from 58%.

NetApp expects Q4 core earnings of $0.65 to $0.70 per share, versus analysts' estimates of $0.65 per share. It expects revenue of $1.7 billion to $1.8 billion, versus estimates of $1.75 billion.

NetApp shares fell 1.70% to $35.21 in after-hours trading.

Posted-In: profitEarnings News Guidance

 

Related Articles (NTAP)

View Comments and Join the Discussion!

Get Benzinga's Newsletters