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
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.