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

NetApp

28/08/2024 22:02

* NetApp Inc  NTAP.OQ  reported quarterly adjusted earnings
of
$1.56​​ per share for the quarter ended July 31, higher than the
same quarter last year, when the company reported EPS of $1.15. 
The mean expectation of seventeen analysts for the quarter was
for earnings of $1.45 per share. Wall Street expected results to
range from $1.40  to $1.52 per share.
    * Revenue rose 7.6% to $1.54 billion from a year ago;
analysts
expected $1.53 billion. 
    * NetApp Inc's reported EPS for the quarter was $1.17​.
    * The company reported quarterly net income of $248 million.
    * NetApp Inc shares had risen by 3.4% this quarter and
gained 51.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.9%
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 6 "strong buy" or "buy," 14
"hold" and 1 "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
$127.00 
This summary was machine generated from LSEG data August 28 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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jul. 31 2024      1.45           1.56           Beat
 Apr. 30 2024      1.79           1.80           Beat
 Jan. 31 2024      1.69           1.94           Beat
 Oct. 31 2023      1.39           1.58           Beat