NetApp (NTAP) Tops Q3 EPS by 8c, Beats on Revenues; Offers 4Q EPS/Revenue Guidance
NetApp (NASDAQ: NTAP) reported Q3 EPS of $0.99, $0.08 better than the analyst estimate of $0.91. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.5 billion.
Third Quarter Fiscal 2018 Financial Results
- Net Revenues: $1.52 billion, increased 8% year-over-year from $1.40 billion in the third quarter of fiscal 2017
- Net Income: GAAP net loss of $506 million*, compared to GAAP net income of $146 million in the third quarter of fiscal 2017; non-GAAP net income1 of $273 million, compared to non-GAAP net income of $231 million in the third quarter of fiscal 2017
- Earnings per Share: GAAP net loss per share2 of $1.89*, compared to GAAP net income per share3 of $0.52 in the third quarter of fiscal 2017; non-GAAP net income per share4 of $0.99, compared to non-GAAP net income per share of $0.82 in the third quarter of fiscal 2017
- Cash, Cash Equivalents and Investments: $5.6 billion at the end of the third quarter of fiscal 2018
- Cash from Operations: $420 million, compared to $235 million in the third quarter of fiscal 2017
- Share Repurchase and Dividend: Returned $203 million to shareholders through share repurchases and a cash dividend
GUIDANCE:
NetApp sees Q4 2018 EPS of $0.95-$1.03, versus the consensus of $1.00. NetApp sees Q4 2018 revenue of $1.525-1.675 billion, versus the consensus of $1.57 billion.
For earnings history and earnings-related data on NetApp (NTAP) click here.