Benzinga | Nov 30, 2021 07:05PM EST

Recap: NetApp Q2 Earnings

NetApp (NASDAQ: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.

Earnings

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.

Past Earnings Performance

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 2021EPS Estimate 0.95 1.12 1.01 0.73EPS Actual 1.15 1.17 1.10 1.05Revenue Estimate 1.43B 1.50B 1.43B 1.31BRevenue 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).

Guidance

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.

To track all upcoming earnings announcements, click to use Benzinga Earnings Calendar.

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