NetApp EPS Leaked; Shares Flop
(NetApp earnings story updated to reflect more details about the leak and price change)
NEW YORK (TheStreet) -- NetApp (NTAP) shares are firmly in the red following reports of leaked second-quarter earnings.
NetApp shares have tumbled 6.5% to $49.25 in a stark reversal of the stock's advances this morning on positive analyst views on its prospects.
According to market intelligence provider StreetAccount and CNBC, NetApp's second-quarter earnings were leaked before the company was able to make its own announcement after the market close Wednesday.
A copy of the presumed leaked income statement, according to StreetAccount, indicates that the company will be reporting earnings of about 52 cents a share, topping the Wall Street consensus estimate of 49 cents a share, if comparable. The supposed leaked statement shows revenue of $1.21 billion vs. the $1.19 billion consensus target, according to StreetAccount. Numerous media outlets have reported the company's earnings ahead of NetApp before the closing bell, subsequent to the leak. -- Written by Andrea Tse in New York.>To contact the writer of this article, click here: Andrea Tse. >To follow the writer on Twitter, go to Andrea Tse. >To submit a news tip, send an email to: tips@thestreet.com.
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