NetApp (NTAP) Misses Q4 EPS by 3c; Guides Q1 EPS Below

NetApp (NASDAQ: NTAP) reported Q4 EPS of $0.55, $0.03 worse than the analyst estimate of $0.58. Revenue for the quarter came in at $1.38 billion versus the consensus estimate of $1.4 billion.

"We executed well in the fourth quarter and I'm pleased with the progress we are making with our strategic solutions portfolio in addressing customers' needs," said George Kurian, chief executive officer. "We continue to advance our pivot to the growth segments of the market while, at the same time, streamlining the business and reducing our cost base. The team remains sharply focused on disciplined execution and is fully committed to return the company to long-term growth."

GUIDANCE:

NetApp sees Q1 2017 EPS of $0.34-$0.39, versus the consensus of $0.45. NetApp sees Q1 2017 revenue of $1.2-1.35 million, versus the consensus of $1.26 million.

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

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