NetApp Q3 solid; sales outlook light
NetApp delivered strong third quarter results, but its outlook for fourth quarter sales was a bit light.
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The storage company reported fiscal third quarter earnings of $192 million, or 55 cents a share, on revenue of $1.61 billion. Non-GAAP earnings were 75 cents a share.
Wall Street was looking for non-GAAP third quarter earnings of 71 cents a share on revenue of $1.63 billion.
As for the outlook, NetApp said that fourth quarter revenue will be $1.62 billion to $1.72 billion with non-GAAP earnings of 77 cents a share to 82 cents a share. Analysts were expecting earnings of 80 cents a share on revenue of $1.73 billion.
Overall, NetApp CEO Tom Georgens said that he was pleased with the company's quarter and its integrated and Flash wares were selling well.
Like many data center players, NetApp is looking to cash in on hybrid deployments that meld on-premise and private and public cloud computing environments. During the quarter, NetApp launched an all-Flash array, new storage systems and moved ahead with OpenStack contributions.
Americas revenue was 52 percent of sales followed by EMEA at 34 percent and Asia Pacific at 14 percent.