NetApp Q2 Adj $1.58 Beats $1.39 Estimate, Sales $1.56B Beat $1.53B Estimate
Portfolio Pulse from Benzinga Newsdesk
NetApp (NASDAQ:NTAP) reported Q2 adjusted earnings of $1.58 per share, surpassing the analyst consensus estimate of $1.39 by 13.67%. Year-over-year, this represents a 6.76% increase from $1.48 per share. Quarterly sales reached $1.56 billion, exceeding expectations of $1.53 billion by 2.09%, despite a 6.07% decline from $1.66 billion in the same period last year.
November 28, 2023 | 9:14 pm
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NetApp reported higher-than-expected Q2 earnings and sales, with EPS at $1.58 beating estimates by 13.67% and sales of $1.56B surpassing estimates by 2.09%.
NetApp's reported earnings and sales exceed analyst estimates, which is likely to be viewed positively by investors. The beat on both top and bottom lines suggests operational efficiency and could lead to a short-term increase in stock price. However, the year-over-year decrease in sales might temper some of the positive sentiment.
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