Investing.com - NetApp (NASDAQ:NTAP) reported on Wednesday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
NetApp announced earnings per share of $1.16 on revenue of $1.40B. Analysts polled by Investing.com anticipated EPS of $1.18 on revenue of $1.46B. That with comparison to EPS of $1.2 on revenue of $1.56B in the same period a year before.NetApp had reported EPS of $1.09 on revenue of $1.37B in the previous quarter.Analysts are expecting EPS of $1.39 and revenue of $1.57B in the upcoming quarter.
NetApp shares are down 2.41% from the beginning of the year and are trading at $55.00 , down-from-52-week-high.They are under-performing the S&P 500 which is up 4.14% year to date.
NetApp shares lost 9.47% in after-hours trade after the report.
NetApp follows other major Technology sector earnings this month
NetApp's report follows an earnings beat by Apple on Tuesday, January 28, 2020, who reported EPS of $4.99 on revenue of $91.82B, compared to forecasts EPS of $4.54 on revenue of $88.51B.
Microsoft had beat expectations on Wednesday, January 29, 2020 with second quarter EPS of $1.51 on revenue of $36.91B, compared to forecast for EPS of $1.05 on revenue of $32,512M.
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