NetApp Fiscal Q3 Non-GAAP Earnings Decline, Revenue Rises; Lowers 2025 Outlook -- Shares Fall After Hours
NetApp (NTAP) reported fiscal Q3 non-GAAP diluted earnings Thursday of $1.91, down from $1.94 a year earlier.
Analysts polled by FactSet expected $1.91.
Revenue for the quarter ended Jan. 24 was $1.64 billion, up from $1.61 billion.
Analysts surveyed by FactSet expected $1.69 billion.
The company said it expects fiscal Q4 non-GAAP earnings of $1.84 to $1.94 per share on revenue of $1.65 billion to $1.80 billion.
Analysts surveyed by FactSet expect $2 on revenue of $1.76 billion.
Meanwhile, the company lowered its fiscal 2025 outlook. The company now expects $7.17 to $7.27 in non-GAAP earnings per share on revenue of $6.49 billion to $6.64 billion.
Previously, the company expected $7.20 to $7.40 per share on revenue of $6.54 billion to $6.74 billion.
Analysts polled by FactSet expect $7.33 on revenue of $6.65 billion.
The company also declared a quarterly dividend of $0.52 per share, payable on April 23 to shareholders of record on April 4.
Shares of NetApp were down nearly 14% in after-hours trading.
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