What Analysts Expect from NetApp in Fiscal 2Q18
Average revenue estimate of $1.38 billion
Analysts expect US-based (SPY) storage tech (QQQ) firm NetApp (NTAP) to report revenues of $1.38 billion in fiscal 2Q18, which ended in October 2017. Wall Street has a high revenue estimate of $1.42 billion and a low estimate of $1.35 billion for 2Q18. If NetApp meets the analyst average revenue estimate of $1.38 billion, it would mean a YoY (year-over-year) rise of 3.2% compared with its revenues of ~$1.34 billion in 2Q17.
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Its non-GAAP (generally accepted accounting principles) EPS (earnings per share) is estimated at $0.69 with a high estimate of $0.74 and a low estimate of $0.65. In fiscal 2Q17, NetApp reported EPS of $0.60, indicating that analysts expect EPS growth of 15% YoY in 2Q18.
NetApp has beaten the analyst EPS estimates in each of the past four quarters. It reported EPS of $0.62 in 1Q18, which was 12.7% above the analyst estimate of $0.55. The firm also announced EPS of $0.86 in 4Q17, which was 4.9% above the analyst estimate of $0.82. Its EPS of $0.82 in 3Q17 was 10.8% above estimates, while the firm’s EPS of $0.6 in 2Q17 was 11% above the average analyst estimate.
NetApp’s revenue rose 2% in fiscal 1Q18
In fiscal 1Q18, NetApp reported revenue of $1.3 billion, a rise of 2% YoY compared to revenue in 1Q17. NetApp’s net income was $136 million, or $0.62 per share, in 1Q18. Analysts estimated the firm would post EPS of $0.55 in fiscal 1Q18.
NetApp will be announcing its 2Q18 results on November 15, 2017.