NetApp slides despite delivering beats in Q3 [Seeking Alpha]
NetApp, Inc. (NTAP)
Last netapp, inc. earnings: 2/12 04:01 pm
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investors.netapp.com
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Source: Seeking Alpha
NetApp slides despite delivering beats in Q3NetApp (NASDAQ:NTAP) hastumbled 8.6% after hours on heavy volume despitefiscal Q3 earnings where it topped expectations with the help of double-digit gains in product sales.Net income swung to a headline loss of $506M, but affected by tax reform legislation and the transition tax on foreign earnings. On a non-GAAP basis, net income rose to $273M from a year-ago $231M.The company notes its $2B in all-flash array annunalized net revenue run rate was up nearly 50% Y/Y.Revenue breakout: Product, $920M (up 17.3%); Software maintenance, $237M (down 1.3%); Hardware maintenance and other services, $366M (down 3.7%).Cash, equivalents and investments were $5.6B at quarter's end; cash from operations was $420M vs. a year-ago $235M.For Q4, it's guiding to net revenues of $1.525B-$1.675B (vs. consensus for $1.568B), and EPS of $0.95-$1.03 (vs. consensus for $1.00).Conference call to come at 5:30 p.m. ET.Press releaseSee all stocks on the move »Now read:C
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NTAP
News
- NetApp (NTAP) Up 51% in a Year: Will the Rally Continue? [Yahoo! Finance]Yahoo! Finance
- NetApp Partners with Google Cloud to Maximize Flexibility for Cloud Data Storage [Yahoo! Finance]Yahoo! Finance
- NetApp Partners with Google Cloud to Maximize Flexibility for Cloud Data StorageBusiness Wire
- A Look At The Intrinsic Value Of NetApp, Inc. (NASDAQ:NTAP) [Yahoo! Finance]Yahoo! Finance
- NetApp Wins Google Cloud Technology Partner of the Year Award for Infrastructure - Storage [Yahoo! Finance]Yahoo! Finance
NTAP
Earnings
- 2/29/24 - Beat
NTAP
Sec Filings
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- 4/15/24 - Form 144
- NTAP's page on the SEC website