NetApp's Q2 sales, Q3 outlook light

NetApp's Q2 sales, Q3 outlook light

Summary: NetApp's sales in the second quarter didn't live up to expectations and the outlook for the third quarter was cut.

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NetApp's second quarter results were mixed and the company lowered its profit and revenue range for the third quarter due to an "ongoing uncertain macro environment."

The company reported second quarter earnings of $167 million, or 48 cents a share, on revenue of $1.55 billion, up 1 percent from a year ago. Non-GAAP earnings were 66 cents a share.

Wall Street was looking for second quarter earnings of 63 cents a share on revenue of $1.598 billion.

NetApp's outlook also fell short of expectations.

The company projected non-GAAP earnings of 68 cents a share to 73 cents a share on revenue between $1.57 billion and $1.67 billion.

Analysts were expecting earnings of 73 cents a share in the third quarter on revenue of $1.69 billion.

netapp q2

 

Topics: Storage, Data Centers

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