Investing

Light Cracks in NetApp Road (NTAP)

NetApp Inc. (NASDAQ: NTAP) was all the buzz during the tech M&A boom of late-Summer.  The storage giant reported that its profit gained over 70%, beating estimates.  Non-GAAP earnings were $0.52 EPS and revenue was $1.21 billion versus prior guidance of $0.47 to $0.50 EPS on $1.16 billion to $1.21 billion in sales.

That is where the trend ends.  Gross margin fell to 66.3% from 66.7% as product sales were up 49%, software rose almost 5% and services rose 16%.

Guidance was $0.48 to $0.50 EPS on revenues of $1.24 to $1.29 billion.  The problem is that Thomson Reuters was showing consensus estimates of $0.51 EPS and $1.26 billion in revenues.

Shares traded down about 6.5% to $49.25 before a quick halt since the release came before the close of the day.  Shares have just re-opened and the after-hours session has shares trading up around $49.90 to $50.00 initially.

JON C. OGG

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A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.

Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous. 

 

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.

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