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NetApp Inc. (NTAP) Has Dropped To A 5-Month Low After Q2 Report

NetApp Inc. (NTAP) reported second quarter adjusted EPS of $1.06 after the bell Wednesday, which topped the consensus estimate of $0.99. The company's revenue for the quarter rose 7.0% to $1.52 billion from $1.42 billion last year.

Third quarter EPS is expected to be between $1.12 and $1.18. Street expectations are for EPS of $1.12.

NetApp gapped open sharply lower Thursday morning and is now down 8.81 at $69.21 on above average volume. The stock has dropped to over a 5-month low.

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