Categories Earnings, Technology

NetApp (NTAP) reports mixed Q4 2020 results; provides weak Q1 2021 earnings outlook

NetApp (NASDAQ: NTAP) stock fell about 2% in the after-market session as the company reported mixed results for the fourth quarter of 2020. Also, a weaker-than-estimated earnings outlook for the first quarter of 2021 dragged down the stock. The IT services provider posted non-GAAP EPS of $1.19 on revenue of $1.40 billion. Analysts had expected NetApp to earn $1.15 per share on revenue of $1.43 billion.

NetApp (NTAP) Q4 2020 Earnings Infograph

On a GAAP basis, net income declined to $196 million or $0.88 per share from $396 million or $1.59 in the fourth quarter of fiscal 2019.

For the first quarter of 2021, NetApp expects non-GAAP income to be in the range of $0.36 to $0.44 per share and GAAP EPS is projected to be in the range of $0.18 to $0.26. Revenue is eyed between $1.090 billion and $1.240 billion.

NTAP stock had fallen about 25% both in the year-to-date and in the past 12 months period.

Also Read:  Walt Disney Q3 results miss estimates despite box office success; stock falls

Most Popular

MongoDB (MDB) has what it takes to end the losing streak. Here’s why

An innovative product portfolio that is capable of outshining the legacy databases has helped MongoDB (NASDAQ: MDB) stay largely unaffected by the market turmoil so far. Of late, the database

Macy’s (M) confirms Q1 loss; expects gradual sales recovery

Retailer Macy's (NYSE: M) posted mixed results for its first quarter of 2020. While the topline missed the market's estimates, bottom line topped the targets. There were no change in

STZ Earnings: Key quarterly highlights that you need to know from Constellation Brands Q1 financial results

Constellation Brands (NYSE: STZ) today announced its first quarter financial results for the period ended May 31, 2020. First quarter net loss was $177.9 million, or $0.94 per share, compared

Top