NetApp results beat estimates on higher storage equipment sales
Aug 13 (Reuters) - NetApp Inc reported better-than-expected quarterly results, helped by higher branded storage equipment sales and increased revenue from hardware maintenance contracts.
The company's net income rose to $88 million, or 27 cents per share, in the first quarter ended July 25, from $82 million, or 23 cents per share, a year earlier.
Excluding items, the company earned 60 cents per share beating the average analyst estimate of 57 cents per share.
Revenue fell 1.3 percent to $1.49 billion, but topped the average Wall Street estimate of $1.47 billion.
(Reporting by Soham Chatterjee in Bangalore; Editing by Saumyadeb Chakrabarty)
