NetApp Inc. Q3 Profit Increases, beats estimates

(RTTNews) - NetApp Inc. (NTAP) reported earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $313 million, or $1.48 per share. This compares with $65 million, or $0.30 per share, in last year's third quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $410 million or $1.94 per share for the period.

Analysts on average had expected the company to earn $1.69 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.2% to $1.61 billion from $1.53 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $313 Mln. vs. $65 Mln. last year. -EPS (Q3): $1.48 vs. $0.30 last year. -Revenue (Q3): $1.61 Bln vs. $1.53 Bln last year.

-Guidance: Next quarter EPS guidance: $1.73 - $1.83 Next quarter revenue guidance: $1.585 - $1.735 Bln Full year EPS guidance: $6.40 - $6.50 Full year revenue guidance: $6.185 - $6.335 Bln