NetApp Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - NetApp Inc. (NTAP) revealed a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $233 million, or $1.10 per share. This compares with $750 million, or $3.41 per share, in last year's second quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $334 million or $1.58 per share for the period.

Analysts on average had expected the company to earn $1.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.0% to $1.56 billion from $1.66 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $233 Mln. vs. $750 Mln. last year. -EPS (Q2): $1.10 vs. $3.41 last year. -Analyst Estimates: $1.39 -Revenue (Q2): $1.56 Bln vs. $1.66 Bln last year.

-Guidance: Next quarter EPS guidance: $1.64 - $1.74 Full year EPS guidance: $6.05 - $6.25