NetApp Inc. Q3 Profit Increases, beats estimates

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

The company's earnings came in at $252 million, or $1.10 per share. This compares with $182 million, or $0.80 per share, in last year's third quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $330 million or $1.44 per share for the period.

Analysts on average had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.5% to $1.61 billion from $1.47 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $252 Mln. vs. $182 Mln. last year. -EPS (Q3): $1.10 vs. $0.80 last year. -Analyst Estimate: $1.28 -Revenue (Q3): $1.61 Bln vs. $1.47 Bln last year.

-Guidance: Next quarter EPS guidance: $1.21 - $1.31 Next quarter revenue guidance: $1.635 - $1.735 Bln Full year EPS guidance: $5.07 - $5.17