NetApp lowers annual revenue, profit forecast
ReutersFeb 27, 2025 9:20 PM
Feb 27 (Reuters) - NetApp NTAP.O lowered its revenue and profit forecast for fiscal year 2025 on Wednesday, hurt by diminishing demand for its data storage services.
The shares of the San Jose, California-based company fell 12% in extended trading.
The company now expects 2025 adjusted earnings per share between $7.17 and $7.27, compared with its prior forecast of $7.20 to $7.40.
It also lowered its revenue forecast to between $6.49 billion and $6.64 billion, compared with prior expectations of $6.54 billion to $6.74 billion.
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