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Wednesday, May 22, 2019

-=NetApp (NTAP) reported earnings on Wed 22 May 2019 (a/h)

NetApp misses by $0.04, misses on revs; guides JulQ EPS and revs below consensus; increases dividend by 20%
  • Reports Q4 (Apr) earnings of $1.22 per share, excluding non-recurring items, $0.04 worse than the S&P Capital IQ Consensus of $1.26; revenues fell 3.2% year/year to $1.59 bln vs the $1.64 bln S&P Capital IQ Consensus.
  • Co issues downside guidance for Q1 (Jul), sees EPS of $0.78-0.86, excluding non-recurring items, vs. $1.05 S&P Capital IQ Consensus; sees Q1 revs of $1.315-1.465 bln vs. $1.48 bln S&P Capital IQ Consensus.
  • Co guides to FY20 revenue of growth "at the low-end of mid-single-digit range." Consensus is around 4% growth, so it seems to be generally in-line with consensus. Co guides to full year non-GAAP operating margin of 23-24%.
  • Co increases quarterly dividend by 20% to $0.48/sh for a new annual yield of 2.9% assuming today's closing price.
  • "Despite the modest shortfall relative to our fiscal year 2019 expectations, we made significant progress in the strategic markets of all-flash, private cloud, and cloud data services....Our opportunity is large and growing, and we are moving quickly to improve our execution."

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