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Published on 1 Dec 2021 on Zacks via Yahoo Finance

NetApp (NTAP) Q2 Earnings & Revenues Top Estimates, Shares Up


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NetApp, Inc. NTAP reported second-quarter fiscal 2022 non-GAAP earnings of $1.28 per share, which surpassed the Zacks Consensus Estimate by 4.9% and increased 21.9% year over year. The company had anticipated non-GAAP earnings between $1.14 and $1.24 per share.Revenues of $1.566 billion increased 11% year over year, topping the Zacks Consensus Estimate by 1.2%. The company had projected revenues in the range of $1.49-$1.59 billion. The upside was driven by strong demand in the Hybrid Cloud and Public Cloud divisions.Region-wise, the Americas, EMEA and Asia Pacific contributed 55%, 29% and 15% to total revenues, respectively.Direct and Indirect revenues contributed 24% and 76%, respectively, to total revenues.Following the announcement, shares of NetApp are trading up 1.7% in the premarket trading on Dec 1. In the past year, shares of NetApp have surged 50.1% compared with the industry’s rally of 39.2% on a year-to-date basis.

NetApp, Inc. Price, Consensus and EPS Surprise

NetApp, Inc. Price, Consensus and EPS SurpriseNetApp, Inc. Price, Consensus and EPS Surprise

NASDAQ.NTAP price evolution
NASDAQ.MPWR price evolution

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