NetApp: Fiscal Q3 Earnings Snapshot

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — NetApp Inc. (NTAP) on Thursday reported fiscal third-quarter net income of $313 million.

The San Jose, California-based company said it had profit of $1.48 per share. Earnings, adjusted for one-time gains and costs, were $1.94 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.

The data storage company posted revenue of $1.61 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $1.59 billion.

For the current quarter ending in April, NetApp expects its per-share earnings to range from $1.73 to $1.83.

The company said it expects revenue in the range of $1.59 billion to $1.74 billion for the fiscal fourth quarter.

NetApp expects full-year earnings in the range of $6.40 to $6.50 per share.

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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