NetApp Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - NetApp Inc. (NTAP) revealed a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $299 million, or $1.42 per share. This compares with $233 million, or $1.10 per share, in last year's second quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $392 million or $1.87 per share for the period.

Analysts on average had expected the company to earn $1.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.1% to $1.658 billion from $1.562 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $299 Mln. vs. $233 Mln. last year. -EPS (Q2): $1.42 vs. $1.10 last year. -Revenue (Q2): $1.658 Bln vs. $1.562 Bln last year.

-Guidance: Next quarter EPS guidance: $1.85 - $1.95 Next quarter revenue guidance: $1.610 - $1.760 Bln Full year EPS guidance: $7.20 - $7.40 Full year revenue guidance: $6.540 - $6.740 Bln