NetApp delivers solid quarter, outlook

NetApp reported a better-than-expected third quarter as storage demand showed signs of picking up.

The company reported net income of $108m (£70m), or 30 cents a share, on revenue of $1.01bn. Non-Gaap earnings were $144m, or 40 cents a share. Wall Street was expecting third quarter earnings of 38 cents a share on revenue of $954.5m.

For the fourth quarter, NetApp projected non-Gaap earnings of 42 cents a share to 44 cents a share on revenue of $1.07bn to $1.1bn. Wall Street was expecting earnings of 41 cents a share on revenue of $992.9bn.

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