NetApp Q2 earnings solid, flash systems gain momentum

NetApp reported a solid fiscal second quarter as it shipped more than 200 petabytes of flash systems.

The company reported second quarter earnings of $109 million, or 38 cents a share, on revenue of $1.34 billion. Non-GAAP earnings were 60 cents a share. Wall Street was looking for second quarter earnings of 54 cents a share on revenue of $1.35 billion.

For the third quarter, NetApp projected revenue between $1.32 billion to $1.47 billion with non-GAAP earnings of 72 cents a share to 77 cents a share. Net income for the third quarter will be 41 cents a share to 46 cents a share.

Wall Street was expecting third quarter earnings of 65 cents a share on revenue of $1.36 billion.

In a nutshell, NetApp has its cost structure under control as it expands its flash array sales.