NetApp: Fiscal Q1 Earnings Snapshot

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — NetApp Inc. (NTAP) on Wednesday reported fiscal first-quarter net income of $233 million.

On a per-share basis, the San Jose, California-based company said it had profit of $1.15. Earnings, adjusted for one-time gains and costs, were $1.55 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.

The data storage company posted revenue of $1.56 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $1.54 billion.

For the current quarter ending in October, NetApp expects its per-share earnings to range from $1.84 to $1.94.

The company said it expects revenue in the range of $1.62 billion to $1.77 billion for the fiscal second quarter.

NetApp expects full-year earnings in the range of $7.60 to $7.90 per share, with revenue ranging from $6.63 billion to $6.88 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NTAP at https://www.zacks.com/ap/NTAP