NetApp Earnings, Revenue Beat in Q1

Investing.com – NetApp (NASDAQ:NTAP) reported first quarter earnings that beat analyst’s expectations on Wednesday and reported revenue that topped forecasts.

The firm reported earnings per share of $1.04 on revenue of $1.47B. Analysts polled by Investing.com anticipated EPS of $0.8 on revenue of $1.42B. That compared to EPS of $0.62 on revenue of $1.33B in the same period a year earlier.

The company had reported EPS of $1.05 on revenue of $1.64B in the previous quarter.

NetApp shares lost 0.35% to trade at $82.47 in after-hours trade following the report.

For the year, NetApp shares are up 13.42%, outperforming the S&P 500 which is up 5% year to date.

NetApp follows other major Technology sector earnings this month

Apple (NASDAQ:AAPL) reported third quarter earnings that beat analyst’s expectations on July 31. The company reported revenue that topped forecasts. The firm reported EPS of $2.34 on revenue of $53.27B compared to forecasts of EPS of $2.16 on revenue of $52.3B

Alphabet (NASDAQ:GOOGL) C reported second quarter earnings that beat analyst’s expectations on July 23. The company reported revenue that topped forecasts. The firm reported EPS of $11.75 on revenue of $26.24B compared to forecasts of EPS of $9.64 on revenue of $25.58B

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Author: HEDGE

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