NetApp Q1 Adj EPS $1.15 Beats $1.07 Estimate, Sales $1.43B Beat $1.41B Estimate
Portfolio Pulse from Benzinga Newsdesk
NetApp reported Q1 adjusted earnings of $1.15 per share, beating the analyst consensus estimate of $1.07 by 7.48%. However, this is a 4.17% decrease from the same period last year. The company also reported quarterly sales of $1.43 billion, surpassing the analyst consensus estimate of $1.41 billion by 1.42%, but this is a 10.18% decrease from the same period last year.
August 23, 2023 | 8:01 pm
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NEUTRAL IMPACT
NetApp's Q1 earnings and sales beat estimates but both show a decrease from the same period last year.
While NetApp beat analyst estimates for Q1 earnings and sales, the year-over-year decrease in both metrics could potentially concern investors. This mixed result may lead to neutral short-term price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100