In the quarter ended Oct. 25, the Sunnyvale, Calif., company earned $1.03 a share, up 13% from 91 cents in the year-earlier quarter. Adjusted earnings were $1.09 against $1.06. Shares outstanding declined 11% to 236 million from 264 million.
Revenue fell 9.6% to $1.37 billion from $1.52 billion.
A survey of analysts by FactSet produced consensus estimates of 80 cents a share, or an adjusted 94 cents, of profit on $1.38 billion of revenue.
GAAP gross margin came in at 67.5%, ahead of the company's guidance, Chief Executive George Kurian said in a statement.
He added that the company remains "disciplined in our spending." NetApp ended the quarter with $3 billion of cash and equivalents.
For the fiscal third quarter, NetApp expects to earn 96 cents to $1.04 a share, or an adjusted $1.14 to $1.22. Revenue is pegged at $1.39 billion to $1.54 billion.
The FactSet-derived survey is looking for profit of $1 a share, or an adjusted $1.17, on revenue of $1.47 billion.