NetApp Inc. Reports 34% Increase In Q1 Earnings

(RTTNews) - NetApp Inc. (NTAP) reported earnings for its first quarter that climbed compared to the same period last year.

The company said its bottom line came in at $173 million, or $0.62 per share. This was up from $129 million, or $0.46 per share, in last year's first quarter.

Analysts had expected the company to earn $0.55 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.1% to $1.33 billion. This was up from $1.29 billion last year.

NetApp Inc. earnings at a glance:

-Earnings (Q1): $173 Mln. vs. $129 Mln. last year. -Earnings Growth (Y-o-Y): 34.1% -EPS (Q1): $0.62 vs. $0.46 last year. -EPS Growth (Y-o-Y): 34.8% -Analysts Estimate: $0.55 -Revenue (Q1): $1.33 Bln vs. $1.29 Bln last year. -Revenue Change (Y-o-Y): 3.1%

-Guidance: Next quarter EPS guidance: $0.64 - $0.72 Next quarter revenue guidance: $1.31 - $1.46 Bln