NetApp's (NTAP) Q3 Earnings and Revenues Miss Estimates

Zacks Equity Research Published on February 13, 2020

NetApp, Inc. (NTAP - Free Report) reported third-quarter fiscal 2020 non-GAAP earnings of $1.16 per share, which missed the Zacks Consensus Estimate by 2.5%.

Moreover, the figure declined 3.3% from the year-ago quarter. Nonetheless, the bottom line came within the guided range of $1.14 and $1.22 per share.

Revenues of $1.404 billion lagged the Zacks Consensus Estimate by 4%. Moreover, the figure declined 10.2% from the year-ago quarter due to macroeconomic headwinds and unpredictability in large enterprise purchasing behavior. Nonetheless, the top line came within the guided range of $1.39-$1.54 billion.

Region wise, the Americas, EMEA and Asia Pacific accounted for 50%, 35% and 15% of total revenues, respectively.

Direct and Indirect revenues represented 21% and 79%, respectively, of total revenues.

NetApp, Inc. Price, Consensus and EPS Surprise

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