Home / Technology / NetApp beats Q3 expectations but shares fall after hours

NetApp beats Q3 expectations but shares fall after hours

NetApp posted its 3rd quarter fiscal 2018 effects on Wednesday, beating marketplace expectancies and elevating its outlook as its all-flash array industry persevered to construct momentum. In spite of the beat, stocks of NetApp have been down in after marketplace buying and selling.

The corporate reported non-GAAP web source of revenue of $273 million, or 99 cents in step with percentage, on income of $1.52 billion, a year-over-year build up of eight %.

Wall Side road used to be in search of income of 91 cents in step with percentage on income of $1.five billion.

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NetApp

“NetApp once more delivered robust leads to the 3rd quarter with accelerating income and robust money technology. It’s rewarding to look the result of our stepped forward execution as we turn into NetApp to ship sustained and winning expansion,” George Kurian, CEO at NetApp, stated in a observation. “We noticed a cast call for surroundings and buyer momentum, touchdown wins and footprint expansions with main organizations in all geographies. With our Information Material Technique and industry-leading answers, we’re profitable new shoppers and increasing our industry alternative.”

For the fourth quarter, the corporate expects a non-GAAP EPS between 95 cents and $1.03 on revenues within the vary of $1.525 billion to $1.675 billion.

Stocks of NetApp have been down greater than nine % in after marketplace buying and selling.

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