NetApp Delivers Upbeat Guidance After Results Beat in Q4 By Investing.com

By Yasin Ebrahim

NetApp (NASDAQ:NTAP) reported Wednesday fourth-quarter results that beat analysts’ forecasts as demand for cloud services continued.

NetApp announced earnings per share of $1.17 on revenue of $1.56B. Analysts polled by Investing.com anticipated EPS of $1.12 on revenue of $1.5B.

“We are gaining share in key storage markets and our public cloud services are at a scale where they are positively impacting total company billings and revenue growth,” the company said.

Looking ahead to its fiscal first-quarter results, the company guided adjusted EPS in the range of $0.89 to $0.97 on revenue in the range of $1.37 billion to $1.47 billion. That compared with guidance for EPS of $0.88 on revenue of $1.37 billion.

The company boosted its existing buyback program by additional $500 million, and raised its quarterly dividend by 4% to $0.50.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar