NetApp reports strong second quarter

The computer storage specialist has exceeded analyst expectations in its fiscal second quarter, but has given a cautious outlook for the next quarter

NetApp has delivered a strong fiscal second quarter, but the outlook was light relative to analysts' expectations.

The storage management company reported earnings of $165m (£103m) or 27 cents a share, for the fiscal second quarter. Non-GAAP earnings were 52 cents a share. Revenue in the quarter was $1.2bn, up 33 percent from a year ago. Wall Street was looking for earnings of 49 cents a share on revenue of $1.19bn.

NetApp earnings image

Storage specialist NetApp has reported revenue of $1.2bn (£750m) in its second quarter. Photo credit:

As for the outlook, NetApp projected fiscal third-quarter revenue of $1.24bn to $1.29bn. The company said third-quarter non-GAAP earnings would be 48 cents a share to 50 cents a share. Wall Street was expecting earnings of 51 cents a share on earnings of $1.26bn.

The company ended the quarter with cash, equivalents and investments of $4.38bn.

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