NetApp Rises Slightly After Q2 Results

NetApp NTAP is up less than one percent in after hours trading today. The company announced its second quarter results, with the Q2 EPS coming in at $0.66 versus the Street estimate of $0.63. Earnings per share were up 29 percent from the year-ago period. "NetApp is at the forefront of a changing IT landscape, creating opportunity from perceived threats," Tom Georgens, president and CEO, said in a company release. "Though we face an ongoing uncertain macro environment, our solid branded revenue growth and share gains are evidence of the value customers place on our innovative, best-of-breed solutions." NetApp expects its Q3 EPS to fall within the $0.68 to $0.73 range. At best, it will match the Wall Street estimate of $0.73. At worst, it could be a few cents lower. The firm's sales expectations are not much better. The company anticipates a sales range between $1.57 billion and $1.68 billion versus the Street estimate of $1.69 billion. Year-to-date, NetApp is up more than 17 percent. Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report. Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ