NetApp (NTAP) Shares Clobbered on Lackluster Q4, Weak Outlook
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Price: $193.60 +0.41%
Revenue Growth %: +17.3%
Financial Fact:
Product: 710M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Revenue Growth %: +17.3%
Financial Fact:
Product: 710M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Shares of NetApp, Inc. (NASDAQ: NTAP) are getting pounded after-hours Wednesday after posting inline fourth-quarter numbers and providing guidance for the current quarter that was well below Wall Street forecasts.
Revenue for the quarter rose 19 percent to $1.70 billion and just edged out the Wall Street consensus of $1.68 billion.
On the bottom line, non-GAAP net income was $252 million, or $0.66 per share, up from $237 million, or $0.59 per share last year. The results beat the Wall Street consensus of $0.63.
For the first quarter of fiscal year 2013, the company sees revenue of $1.4-$1.5 billion, which represents a sequential decline of 12-18 percent and a decline of 4 percent to a gain of 3 percent on a year-over-year basis. Wall Street was looking for quarterly revenue of $1.61 billion. NetApp sees first-quarter 2013 non-GAAP EPS of $0.34-$0.39 versus the consensus of 0.59.
NetApp said its outlook for the first quarter reflects the normal slower seasonality of the first quarter and increasing uncertainty in the broader macro environment.
NetApp shares are down 25 percent to $24.57 after-hours Wednesday.
Revenue for the quarter rose 19 percent to $1.70 billion and just edged out the Wall Street consensus of $1.68 billion.
On the bottom line, non-GAAP net income was $252 million, or $0.66 per share, up from $237 million, or $0.59 per share last year. The results beat the Wall Street consensus of $0.63.
For the first quarter of fiscal year 2013, the company sees revenue of $1.4-$1.5 billion, which represents a sequential decline of 12-18 percent and a decline of 4 percent to a gain of 3 percent on a year-over-year basis. Wall Street was looking for quarterly revenue of $1.61 billion. NetApp sees first-quarter 2013 non-GAAP EPS of $0.34-$0.39 versus the consensus of 0.59.
NetApp said its outlook for the first quarter reflects the normal slower seasonality of the first quarter and increasing uncertainty in the broader macro environment.
NetApp shares are down 25 percent to $24.57 after-hours Wednesday.
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