SUNNYVALE, Calif. (
, the data storage specialist, beat analysts' sales and profit estimates in its
, pushing the company's shares up in after-market trading.
NetApp reported revenue of $1.01 billion after market close, up from $746 million in the same period last year, and above Wall Street's estimate of $954.5 billion.
Excluding items, NetApp earned 40 cents a share, compared to 28 cents in the prior year's quarter. Analysts surveyed by Thomson Reuters had forecast earnings of 38 cents a share.
Investors responded positively to NetApp's third-quarter numbers. The storage specialist's shares rose 57 cents, or 1.78%, to $32.65 in extended trading.
NetApp signaled a much-improved IT spending environment during its
, which is now happening. Set against this backdrop, NetApp gave bullish fourth-quarter guidance.
The company, which competes with
, expects revenue between $1.07 billion and $1.10 billion, well above the $992.9 million predicted by analysts. Excluding items, NetApp forecast earnings between 42 cents and 44 cents a share, compared to the 41 cents forecast by Wall Street.
-- Reported by James Rogers in New York
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