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Birthday : 06/16/1947
Place of birth : France
Linked companies : Johnson Matthey PLC - Akzo Nobel NV
Biography : Patrick Webster Thomas is a British businessperson who has been the head of 5 different companies an

NetApp Revenue Declines, Misses Estimates

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05/22/2019 | 04:39pm EDT

By Patrick Thomas

NetApp Inc. (NTAP) said its profit rose for its fourth quarter, but missed Wall Street estimates as the company's revenue fell 3%.

The Sunnyvale, Calif.-based cloud data services company reported a profit of $396 million, or $1.59 a share, compared with $290 million, or $1.06 a share, a year ago.

The company reported adjusted earnings of $1.22 a share. Analysts polled by FactSet were expecting earnings of $1.26 a share on an adjusted basis.

Revenue fell to $1.59 billion from $1.64 billion a year earlier. Analysts had expected revenue to be flat for the quarter.

For its current quarter, the company expects revenue between $1.32 billion and $1.47 billion. The company forecasted earnings between 56 cents and 64 cents a share and adjusted earnings between 78 cents and 86 cents a share.

For the fiscal first quarter, the company said it will increase its dividend by 20% to 48 cents a share.

Shares of the company fell 4.7% during after-market trading.

Write to Patrick Thomas at patrick.thomas@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
NETAPP -1.38% 60.14 Delayed Quote.2.20%
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