Technology

NetApp (NASDAQ:NTAP)  reported fiscal Q3 adjusted earnings of $1.37 per share, Analysts polled by Capital IQ forecast $1.31. Revenue for the quarter ended Jan. 27 was $1.53 billion, Analysts surveyed by Capital IQ projected $1.61 billion. For fiscal Q4, the data management company said it expects adjusted EPS of $1.30 to $1.40 on revenue of $1.48 billion to $1.63 billion. Analysts polled by Capital IQ are looking for adjusted EPS of $1.43 and revenue of $1.67 billion. For fiscal 2023, NetApp said that it continues to expect adjusted EPS of $5.30 to $5.50 and that it now expects revenue to be flat. The company previously guided for revenue growth of 2% to 4%.

February 22, 2023 – NetApp(NASDAQ:NTAP) today reported financial results for the third quarter of fiscal year 2023, which ended on January 27, 2023. Reports  Q3 EPS $1.37 Beats $1.31 Estimate, Sales $1.53B Miss $1.61B Estimate. $308 million returned to shareholders in share repurchases and cash dividends in the third quarter. Third quarter of fiscal year 2023 financial results Net revenues: $1.53 billion, compared to $1.61 billion in the third quarter of fiscal year 2022; a year-over-year decrease of 5%, Hybrid Cloud segment revenue: $1.38 billion, compared to $1.50 billion in the third quarter of fiscal year 2022. Public Cloud segment revenue: $150 million, compared to $110 million in the third quarter of fiscal year 2022. NetApp Public Cloud annualized revenue run rate (ARR) $605 million, compared to $469 million in the third quarter of fiscal year 2022; a year-over-year increase of 29%. Net income: GAAP net income of $65 million, compared