Recap: NetApp Q2 Earnings

NetApp NTAP reported its Q2 earnings results on Tuesday, November 30, 2021 at 04:00 PM.

Here's what investors need to know about the announcement.

NetApp beat estimated earnings by 5.79%, reporting an EPS of $1.28 versus an estimate of $1.21, which did not surprise analysts.

Revenue was up $150,000,000 from the same period last year.

Last quarter the company beat on EPS by $0.2, which was followed by a 4.72% increase in the share price the next day.

Here's a look at NetApp's past performance:

Quarter	Q1 2022	Q4 2021	Q3 2021	Q2 2021
EPS Estimate	0.95	1.12	1.01	0.73
EPS Actual	1.15	1.17	1.10	1.05
Revenue Estimate	1.43B	1.50B	1.43B	1.31B
Revenue Actual	1.46B	1.55B	1.47B	1.42B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

NetApp management provided guidance for their next quarter, expecting earnings between $1.14 and $1.24 per share for the nextquarter.

This represents a -7.03% in quarter-over-quarter growth for NetApp, a bearish signal to many investors.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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