UPDATE: NetApp FQ3 Profit Up 32%

NetApp

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.