NetApp Inc. (NTAP) announced an impressive increase in second-quarter profit, surpassing Wall Street expectations. The company reported earnings of $299 million, equivalent to $1.42 per share, compared to $233 million, or $1.10 per share, in the same quarter the previous year.
When excluding certain items, NetApp's adjusted earnings rose to $392 million, or $1.87 per share. This result outperformed the projections of analysts, who, according to Thomson Reuters data, had anticipated earnings of $1.78 per share, typically excluding special items.
The company's quarterly revenue experienced a growth of 6.1%, climbing to $1.658 billion from $1.562 billion in the prior year.
Here’s a summary of NetApp Inc.'s earnings based on Generally Accepted Accounting Principles (GAAP):
- **Net Income (Q2):** $299 million compared to $233 million last year.
- **Earnings Per Share (Q2):** $1.42 versus $1.10 last year.
- **Revenue (Q2):** $1.658 billion compared to $1.562 billion last year.
### Guidance
- **Next Quarter EPS:** Projected between $1.85 and $1.95
- **Next Quarter Revenue:** Estimated between $1.610 billion and $1.760 billion
- **Full Year EPS:** Anticipated in the range of $7.20 to $7.40
- **Full Year Revenue:** Expected to be between $6.540 billion and $6.740 billion
