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NetApp Inc. Q1 adjusted earnings Beat Estimates

NetApp Inc. (NTAP) announced earnings for first quarter that fell from last year.

The company's earnings came in at $77 million, or $0.35 per share. This compares with $103 million, or $0.42 per share, in last year's first quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $163 million or $0.73 per share for the period.

Analysts had expected the company to earn $0.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.8% to $1.30 billion from $1.24 billion last year.

NetApp Inc. earnings at a glance:

-Earnings (Q1): $163 Mln. vs. $157 Mln. last year.
-EPS (Q1): $0.73 vs. $0.65 last year.
-Analysts Estimate: $0.41
-Revenue (Q1): $1.30 Bln vs. $1.24 Bln last year.

Next quarter EPS guidance: $0.66 - $0.74
Next quarter revenue guidance: $1.225 - $1.375 Bln

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