Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why NetApp Stock Plunged Today

TheMotleyFool

0 0

Shares of NetApp (NASDAQ: NTAP) have plunged today, down by 10% as of 11:45 a.m. EST, after the cloud data services provider reported fiscal third-quarter earnings results. NetApp missed earnings expectations, cut its revenue guidance, and said its CFO was retiring.

Revenue in the fiscal third quarter was $1.4 billion, down from $1.56 billion a year ago. That translated into adjusted net income of $265 million, or $1.16 per share, which was shy of the $1.18 per share in adjusted profits that analysts were modeling for. The tech company ended the quarter with $3 billion in cash on the balance sheet.

Image source: Getty Images.

Source Fool.com

Like: 0

NTAP

Share