NetApp (NASDAQ:NTAP) Fiscal Q3 2023 Adjusted Earnings, Revenue Drop

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%.

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