NetApp Shares Plunge 13% After Data-Management Firm Cuts Earnings Outlook

NetApp’s shares fell about 13.5% in postmarket trading after the data-management company cut its guidance for full-year adjusted earnings per share and revenue growth, despite an improving supply environment and a record financial performance in the second quarter.

Although some analysts expected the company to reaffirm or even raise its view, NetApp cut its earnings per share range to $5.30-$5.50 from $5.40-$5.60 and revenue growth to 2%-4% from 6%-8%. Third-quarter forecasts also missed estimates. However, second-quarter adjusted EPS beat analysts’ expectations, and revenue was almost in line with consensus.

“We delivered a solid quarter in a dynamic environment, with all-time highs for Q2 revenue, billings, gross profit dollars, operating income, and EPS,” said NetApp CEO George Kurian in the company’s earnings release. “In a challenging macro environment, we remain focused on innovation, execution, and operational discipline.”

Shares fell the most of any company in the S&P 500 in after-hours trading, and are down by about 22% year-to-date.

$美国网存(NTAP)$

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment17

  • Top
  • Latest
  • Mr Vijay
    ·2022-11-30
    👌
    Reply
    Report
  • Kelvin_Qiu
    ·2022-11-30
    [Like]
    Reply
    Report
  • nhwee
    ·2022-11-30
    Ok
    Reply
    Report
  • 1688NG
    ·2022-11-30
    like like
    Reply
    Report
  • jojoc
    ·2022-11-30
    ok
    Reply
    Report
  • GinOng
    ·2022-11-30
    Noted
    Reply
    Report
  • Wtt
    ·2022-11-30
    k
    Reply
    Report
  • Tjs
    ·2022-11-30
    ok
    Reply
    Report
  • leolow84
    ·2022-11-30
    like
    Reply
    Report
  • chinks29
    ·2022-11-30
    Ok
    Reply
    Report
  • WooSM
    ·2022-11-30
    O
    Reply
    Report
  • marylampsg
    ·2022-11-30
    bad
    Reply
    Report
  • WooSM
    ·2022-11-30
    Ok
    Reply
    Report
  • Tjs
    ·2022-11-30
    ok
    Reply
    Report
  • KYLeong
    ·2022-11-30
    Support
    Reply
    Report
  • Tjs
    ·2022-11-30
    ok
    Reply
    Report
  • Verdave
    ·2022-11-30
    k
    Reply
    Report