NetApp (NTAP) Tops Q2 EPS by 32c; Guides Higher

NetApp (NASDAQ: NTAP) reported Q2 EPS of $1.05, $0.32 better than the analyst estimate of $0.73. Revenue for the quarter came in at $1.42 billion versus the consensus estimate of $1.32 billion.

“In the second quarter, NetApp again delivered strong results, successfully executing against our plan to scale our cloud business while growing in the storage market. We also introduced significant new products and services which further advance our Data Fabric strategy,” said George Kurian, chief executive officer. “We are a primary beneficiary of the increasing importance of data and are uniquely positioned to help customers with their digital transformations. I am confident in our ability to drive long-term growth, extend our hybrid cloud leadership, and deliver value for customers, partners, and shareholders.”

GUIDANCE:

NetApp sees Q3 2021 EPS of $0.94-$1.02, versus the consensus of $0.89. NetApp sees Q3 2021 revenue of $1.34-1.49 billion, versus the consensus of $1.36 billion.

For earnings history and earnings-related data on NetApp (NTAP) click here.

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