/>
X
Finance

NetApp: Strong second quarter, but outlook disappoints

NetApp delivered a strong fiscal second quarter, but the outlook was a bit light relative to expectations.
larry-dignan-eic.jpg
Written by Larry Dignan on

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

In an earnings report that hit the wires early, NetApp reported earnings of $165 million, or 27 cents a share, for the fiscal second quarter. Non-GAAP earnings were 52 cents a share. Revenue in the quarter was $1.2 billion, up 33 percent from a year ago. Wall Street was looking for earnings of 49 cents a share on revenue of $1.19 billion.

As for the outlook, NetApp projected fiscal third quarter revenue of $1.24 billion to $1.29 billion. 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 $1.26 billion.

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

Editorial standards

Related

How to use your phone to diagnose your car's 'check engine' light
BlueDriver Bluetooth dongle

How to use your phone to diagnose your car's 'check engine' light

Google Play malware: If you've downloaded these malicious apps, delete them immediately
a-man-sitting-in-his-living-room-looking-at-his-smartphone-with-concern

Google Play malware: If you've downloaded these malicious apps, delete them immediately

How to access your iPhone's camera faster with this hidden feature
iphone-13-pro-max-cameras.jpg

How to access your iPhone's camera faster with this hidden feature