NTAP --> -7,1% in after hours
Reports Q3 (Jan) earnings of $0.75 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus Estimate of $0.77; revenues fell 3.7% year/year to $1.55 bln vs the $1.61 bln consensus.
Co issues downside guidance for Q4, sees EPS of $0.70-0.75, excluding non-recurring items, vs. $0.89 Capital IQ Consensus Estimate; sees Q4 revs of $1.55-1.65 bln vs. $1.69 bln Capital IQ Consensus Estimate.
NetApp increased its stock repurchase program, of which $206 million remained available, by an additional $2.5 billion. The Company plans to repurchase $206 million of its common stock by the end of May 2015. The additional $2.5 billion of repurchases is expected to be completed by the end of May 2018, with the first $1 billion expected to be completed by the end of May 2016.