NetApp Rises After Reporting Lower Q4 Profit

released its fiscal fourth-quarter earnings results after the closing bell on Tuesday. The company's adjusted earnings per share came in slightly ahead of Wall Street estimates, but sales missed consensus expectations. In late trading, the stock had added a little better than two percent to $37.54 after falling 1.50 percent during regular trading hours. NetApp reported a profit of $174 million or $0.47 per share, versus $181 million or $0.47 per share, in the year ago period. On an adjusted basis, earnings were $253 million or $0.69 per share. This compared to consensus EPS estimates of $0.68. Fourth-quarter sales rose to $1.72 billion from $1.70 billion last year. This missed street consensus sales estimates of $1.76 billion. Looking forward to Q1, NetApp guided for EPS of $0.13 to $0.18 per share and adjusted EPS of $0.45 to $0.50. Revenue is expected to be in a range of $1.475 billion to $1.575 billion. Currently, analysts anticipate Q1 earnings per share of $0.53 on revenue of $1.76 billion.