NetApp Inc reports results for the quarter ended July 31 - Earnings Summary

• NetApp Inc NTAP.OQ reported quarterly adjusted earnings of $1.55​​ per share for the quarter ended July 31, lower than the same quarter last year, when the company reported EPS of $1.56. The mean expectation of sixteen analysts for the quarter was for earnings of $1.54 per share. Wall Street expected results to range from $1.50 to $1.62 per share.

• Revenue rose 1.2% to $1.56 billion from a year ago; analysts expected $1.55 billion.

• NetApp Inc's reported EPS for the quarter was $1.15​.

• The company reported quarterly net income of $233 million.

• NetApp Inc shares had risen by 2.7% this quarter and lost 5.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 6.9% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy," 14 "hold" and no "sell" or "strong sell." The average consensus recommendation for the computer hardware peer group is "buy."

• Wall Street's median 12-month price target for NetApp Inc is $116.00, about 5.7% above its last closing price of $109.41

This summary was machine generated from LSEG data August 27 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)