NetApp beats by $0.12, beats on revs; guides Q3 EPS above consensus, revs above consensus
- Reports Q2 (Oct) earnings of $0.81 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus of $0.69; revenues rose 6.1% year/year to $1.42 bln vs the $1.38 bln Capital IQ Consensus.
- All-flash array annualized net revenue run rate of $1.7 billion increased 58% year-over-year
- Co issues upside guidance for Q3, sees EPS of $0.86-0.94, excluding non-recurring items, vs. $0.85 Capital IQ Consensus Estimate; sees Q3 revs of $1.425-1.575 vs. $1.44 bln Capital IQ Consensus Estimate.
- "In the second quarter, NetApp again delivered strong operating results on the top and bottom lines. We also introduced a number of industry-leading innovations that position us for continued growth and expand our leadership position in the growth segments of the market," said George Kurian, chief executive officer. "Our strong performance was driven by excellent execution and reflects our customers' clear and growing preference for the value of our Data Fabric strategy. We are winning because we enable our customers' success through data."
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