NetApp Q3 Adj. Profit Tops View; Issues Q4 Outlook - Quick Facts

(RTTNews) - NetApp Inc. (NTAP) Wednesday reported third-quarter net income of $192.1 million or $0.55 per share, compared to $158.1 million or $0.43 per share last year.

Excluding items, adjusted earnings for the quarter were $260.6 million or $0.75 per share, up from $242.7 million or $0.67 per share a year ago.

On average, 37 analysts polled by Thomson Reuters estimated earnings of $0.71 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter was $1.61 billion, compared to $1.63 billion in the prior year. Analysts had a consensus revenue estimate of $1.63 billion for the quarter.

Looking ahead to the fourth quarter, the company expects net earnings of $0.57 to $0.62 per share, adjusted earnings of $0.77 to $0.82 per share and revenue of $1.62 billion to $1.72 billion. Analysts expect earnings of $0.80 per share on revenue of $1.73 billion.