NetApp Q1 Profit Tops View; Issues Q2 Outlook - Quick Facts

(RTTNews) - NetApp, Inc. (NTAP) Wednesday reported first-quarter net income of $82 million, or $0.23 per share, compared to $64 million, or $0.17 per share in the same period a year ago.

Adjusted earnings for the quarter was $192 million, or $0.53 per share, up from $156 million, or $0.42 per share in the comparable quarter last year. On average, 33 analysts polled by Thomson Reuters expected the company to earn $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues rose 5% to $1.52 billion from $1.44 billion last year, while 31 analysts expected revenues of $1.53 billion.

Looking ahead, the company anticipates a second-quarter profit in the range of $0.41 to $0.46 per share, adjusted earnings in the range of $0.60 to $0.65 per share and revenue in the range of $1.56 billion to $1.66 billion. Analysts currently expect the company to report second-quarter earnings of $0.63 per share on revenues of $1.63 billion.