Netapp falls after cutting annual results forecast

NetApp

27/02/2025 22:14

** Data storage firm NetApp's NTAP.O shares fall 13.5% to $102.28 in extended trading

** NTAP lowers annual revenue and profit forecast

** Company forecasts FY2025 revenue between $6.49 billion and $6.64 billion, down from earlier projection of $6.54 billion to $6.74 billion

** Expects 2025 adj EPS between $7.17 and $7.27, compared with prior forecast of $7.20 to $7.40

** Sees fourth-quarter revenue in the range of $1.65 billion to $1.80 billion, the midpoint of which is below estimate of $1.76 billion

** Posts third-quarter revenue of $1.64 billion, also below estimate of $1.69 billion

** NTAP had risen 31.7% in 2024

 (Reporting by Juby Babu in Mexico City)

 ((Juby.Babu@thomsonreuters.com))