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NetApp Inc. Q1 adjusted earnings Beat Estimates

NetApp Inc. (NTAP) announced a profit for its first quarter that increased from the same period last year.

The company's profit came in at $202 million, or $0.88 per share. This compares with $77 million, or $0.35 per share, in last year's first quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $263 million or $1.15 per share for the period.

Analysts had expected the company to earn $0.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.3% to $1.46 billion from $1.30 billion last year.

NetApp Inc. earnings at a glance:

-Earnings (Q1): $263 Mln. vs. $163 Mln. last year.
-EPS (Q1): $1.15 vs. $0.73 last year.
-Analysts Estimate: $0.95
-Revenue (Q1): $1.46 Bln vs. $1.30 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.14 - $1.24
Full year EPS guidance: $4.85 - $5.05

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