BREAKING: NetApp Earnings, Revenue Beat Expectations in Second Quarter

Photo: Reuters

Investing.com - NetApp reported on Tuesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.

NetApp announced earnings per share (EPS) of $1.05 on revenue of $1.42 billion. Analysts polled by Investing.com anticipated EPS of $0.7261 on revenue of $1.32 billion.

NetApp shares are down 12% from the beginning of the year, still down 17.04% from its 52-week high of $65.38 set on Jan 16. They are under-performing the Nasdaq which is up 37.7% from the start of the year.

NetApp Follows Other Major Technology Sector Earnings This Month

NetApp's report follows an earnings beat by NVIDIA on Nov 18, who reported EPS of $2.91 on revenue of $4.73 billion, compared to forecasts EPS of $2.58 on revenue of $4.42 billion.

Cisco had beat expectations on Nov 12 with first quarter EPS of $0.76 on revenue of $11.93 billion, compared to forecast for EPS of $0.7049 on revenue of $11.85 bilion.

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