real-time news and commentary for investors
Wednesday, Aug 14
NetApp now -4% AH; revenue guidance midpoint below consensus
- NetApp (NTAP) expects FQ2 revenue of $1.56B-$1.66B and EPS of $0.60-$0.65 vs. a consensus of $1.63B and $0.63.
- The revenue guidance midpoint ($1.61B) is slightly below consensus. CEO Tom Georgens mentions seeing "an uneven macro environment."
- Expectations had risen thanks to a spring/summer run-up, fueled in part by bullish analyst commentary.
- $849.5M was spent on buybacks (helped drive EPS beat). Exc. restructuring charges, opex -1% Y/Y vs. rev. growth of 5%.
- CC at 5:30PM ET. FQ1 results, PR.