NetApp (NTAP) Tops Q4 EPS by 4c, Guides Q1 EPS Below Views

NetApp (NASDAQ: NTAP) reported Q4 EPS of $0.86, $0.04 better than the analyst estimate of $0.82. Revenue for the quarter came in at $1.48 billion versus the consensus estimate of $1.44 billion.

• Net Revenues for Q4 up 5% quarter-over-quarter and 7% year-over-year.
• Q4 All-flash array annualized net revenue run rate of $1.70 billion, up almost 140% year-over-year.
• Over an exabyte of flash shipped in fiscal year 2017.
• $913 million returned to shareholders in share repurchases and cash dividends in fiscal year 2017.
• First quarter fiscal year 2018 dividend to increase by 5% to $0.20 per share.

“Our continued focus and disciplined execution yielded yet another quarter of solid results. We have regained momentum, returning the company to revenue growth and delivering against all of our fiscal year 2017 commitments,” said George Kurian, chief executive officer. “By innovating to redefine traditional markets and to bring enterprise-grade technology to emerging areas of the market, we are gaining market share, expanding our addressable market, and creating new opportunities for NetApp.”

Guidance:

Sees Q1 2018 EPS of $0.49-0.57 versus consensus of $0.67, see revenues of $1.24-$1.39 billion versus consensus of $1.33 billion

For earnings history and earnings-related data on NetApp (NTAP) click here.

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