NetApp now -4% AH; revenue guidance midpoint below consensus

|By:, SA News Editor

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.