NetApp Profit Tops Estimates; Outlook Weak - Quick Facts

(RTTNews) - NetApp Inc. (NTAP) Wednesday reported second-quarter net income of $167 million or $0.48 per share, compared with $110 million or $0.30 per share last year.

Excluding items, adjusted earnings for the quarter were $232 million or $0.66 per share, compared with $189 million or $0.51 per share a year ago.

On average, 37 analysts polled by Thomson Reuters estimated earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter was $1.55 billion, compared with $1.54 billion in the prior year. Analysts had a consensus revenue estimate of $1.60 billion for the quarter.

Looking ahead to the third quarter, the company expects net earnings of $0.50 to $0.55 per share, adjusted earnings of $0.68 to $0.73 per share and revenue of $1.575 billion to $1.675 billion. Analysts expect earnings of $0.73 per share on revenue of $1.69 billion.