SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — NetApp Inc. (NTAP) on Wednesday reported fiscal first-quarter earnings of $248 million.
The San Jose, California-based company said it had profit of $1.17 per share. Earnings, adjusted for stock option expense and non-recurring costs, were $1.56 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The data storage company posted revenue of $1.54 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $1.53 billion.
For the current quarter ending in October, NetApp expects its per-share earnings to range from $1.73 to $1.83.
The company said it expects revenue in the range of $1.57 billion to $1.72 billion for the fiscal second quarter.
NetApp expects full-year earnings in the range of $7 to $7.20 per share, with revenue ranging from $6.48 billion to $6.68 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NTAP at https://www.zacks.com/ap/NTAP
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