By Connor Hart
Shares of NetApp climbed after the company lifted its full-year outlook after posting higher profit and revenue in its fiscal second quarter.
The stock rose 5.2%, to $117.25, in premarket trading Wednesday. Through Tuesday's close, shares have slipped about 4% year-to-date.
The data-infrastructure company late Tuesday said it now expects full-year earnings of $5.82 to $6.12 a share, or $7.75 to $8.05 a share on an adjusted basis. It had previously guided for earnings of $5.72 to $6.02 a share, or $7.60 to $7.90 a share on an adjusted basis.
The company continues to expect revenue between $6.63 billion and $6.88 billion for the year.
For the current quarter, NetApp guided for earnings of $1.52 to $1.62 a share, or $2.01 to $2.11 a share on an adjusted basis. Revenue is expected to come in between $1.62 billion and $1.77 billion.
Chief Executive George Kurian said the company is experiencing strong demand for its artificial intelligence solutions, first-party and marketplace cloud storage services, and all-flash offerings.
"Our close alignment with customers' key data initiatives has positioned us to capitalize on our significant competitive advantages," he added.
For its three months ended Oct. 24, NetApp posted a profit of $305 million, or $1.51 a share, compared with $299 million, or $1.42 a share, a year earlier.
Stripping out one-time items, earnings were $2.05 a share. Analysts surveyed by FactSet had expected adjusted earnings of $1.88 a share.
Revenue climbed 2.8% to $1.71 billion, slightly higher than the $1.69 billion that Wall Street had modeled.
The company's hybrid cloud unit logged revenue of $1.53 billion, up 3% from last year, while its public cloud business notched revenue of $171 million, up 1.8% from a year ago.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
November 26, 2025 07:50 ET (12:50 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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