NetApp Earnings, Revenue Miss in Q3

Investing.com – NetApp (NASDAQ:) reported on Wednesday third quarter that missed analysts’ forecasts and revenue that fell short of expectations.

NetApp announced earnings per share of $1.16 on revenue of $1.40B. Analysts polled by Investing.com anticipated EPS of $1.18 on revenue of $1.46B. That with comparison to EPS of $1.2 on revenue of $1.56B in the same period a year before. NetApp had reported EPS of $1.09 on revenue of $1.37B in the previous quarter. Analysts are expecting EPS of $1.39 and revenue of $1.57B in the upcoming quarter.

NetApp shares are down 2.41% from the beginning of the year , still down 22.46% from its 52 week high of $78.35 set on April 17, 2019. They are under-performing the which is up 4.14% year to date.

NetApp shares lost 9.47% in after-hours trade after the report.

NetApp follows other major Technology sector earnings this month

NetApp’s report follows an earnings beat by Apple on January 28, who reported EPS of $4.99 on revenue of $91.82B, compared to forecasts EPS of $4.54 on revenue of $88.51B.

Microsoft had beat expectations on January 29 with second quarter EPS of $1.51 on revenue of $36.91B, compared to forecast for EPS of $1.05 on revenue of $32,512M.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

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