NetApp Inc. Q2 Profit Increases, beats estimates

(RTTNews) - NetApp Inc. (NTAP) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $750 million, or $3.41 per share. This compares with $224 million, or $0.98 per share, in last year's second quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $326 million or $1.48 per share for the period.

Analysts on average had expected the company to earn $1.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.7% to $1.66 billion from $1.57 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $750 Mln. vs. $224 Mln. last year. -EPS (Q2): $3.41 vs. $0.98 last year. -Analyst Estimate: $1.33 -Revenue (Q2): $1.66 Bln vs. $1.57 Bln last year.

-Guidance: Next quarter EPS guidance: $1.25 - $1.35 Next quarter revenue guidance: $1.525 - $1.675 Bln Full year EPS guidance: $5.30 - $5.50