NetApp lowers annual revenue, profit forecast

NetApp

27/02/2025 21:20

Feb 27 (Reuters) - NetApp NTAP.O lowered its revenue and profit forecast for fiscal year 2025 on Wednesday, hurt by diminishing demand for its data storage services.

The shares of the San Jose, California-based company fell 12% in extended trading.

The company now expects 2025 adjusted earnings per share between $7.17 and $7.27, compared with its prior forecast of $7.20 to $7.40.

It also lowered its revenue forecast to between $6.49 billion and $6.64 billion, compared with prior expectations of $6.54 billion to $6.74 billion.

 (Reporting by Kritika Lamba in Bengaluru; Editing by Krishna Chandra Eluri)

 ((Kritika.Lamba@thomsonreuters.com;))