NetApp Inc reports results for the quarter ended in January - Earnings Summary

NetApp

01/03/2024 11:52

* NetApp Inc  NTAP.OQ  reported quarterly adjusted earnings
of
$1.94​​ per share for the quarter ended in January, higher than
the same quarter last year, when the company reported EPS of
$1.37.  The mean expectation of seventeen analysts for the
quarter was for earnings of $1.69 per share. Wall Street
expected results to range from $1.64  to $1.70 per share.
    * Revenue rose 5.2% to $1.61 billion from a year ago;
analysts
expected $1.59 billion. 
    * NetApp Inc's reported EPS for the quarter was $1.48​.
    * The company reported quarterly net income of $313 million.
    * NetApp Inc shares had risen by 1.1% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 14
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the computer
hardware
peer group is also "hold"

Wall Street's median 12-month price target for NetApp Inc is
$95.50 
This summary was machine generated from LSEG data March 1 at
11:52 a.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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 31 2024      1.69           1.94           Beat
 Oct. 31 2023      1.39           1.58           Beat
 Jul. 31 2023      1.07           1.15           Beat
 Apr. 30 2023      1.34           1.54           Beat