NetApp Shares Slide After Weak Earnings Outlook

NetApp Inc. shares declined in the extended session Wednesday after the data-storage tech company forecast a weak outlook for the fiscal third quarter. NetApp shares declined 4% to $40.60 on moderate volume after the company forecast adjusted third-quarter earnings of 74 cents to 79 cents a share on revenue of $1.56 billion to $1.66 billion. Analysts surveyed by FactSet expect 80 cents a share on revenue of $1.62 billion. For the fiscal second quarter, NetApp reported adjusted earnings of 70 cents a share on revenue of $1.54 billion. Analysts estimated 69 cents a share on revenue of $1.55 billion.