NetApp falls on weaker-than-expected FY26 forecast

NetApp

27/08/2025 21:39

** Data storage company NetApp NTAP.O shares fall 7% to $104.32 in extended trading

** Company expects FY26 revenue to be between $6.63 bln and $6.88 bln, the midpoint of which ($6.755 billion) is below analysts average estimates of $6,769 billion

** Expects adj. profit for FY26 to be between $7.60 and $7.90 per share, in-line with analysts' estimates

** Reports Q1 adj. profit of $1.55/shr vs estimates of $1.54/shr

** Q1 revenue at $1.56 bln beats estimates of $1.55 bln

** YTD, NTAP down 3.4%

(Reporting by Abhinav Parmar in Bengaluru)

((Abhinav.Parmar@thomsonreuters.com;))