NetApp Shares Drop As Results, Outlook Disappoint

MarketWatch Pulse

NetApp Inc. shares fell in the extended session Wednesday after the data storage company's quarterly results and outlook disappointed. NetApp shares dropped 6.2% to $37.31 on moderate volume. The company reported adjusted fiscal third-quarter earnings of 75 cents a share on revenue of $1.55 billion. Analysts surveyed by FactSet had estimated 77 cents a share on revenue of $1.61 billion. NetApp forecast adjusted fiscal fourth-quarter earnings of 70 cents to 75 cents a share on revenue of $1.55 billion to $1.65 billion. Analysts estimate 89 cents a share on revenue of $1.69 billion.

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