NetApp (NASDAQ:NTAP) Second Quarter 2023 Results
Key Financial Results
Revenue: US$1.66b (up 6.2% from 2Q 2022).
Net income: US$750.0m (up 235% from 2Q 2022).
Profit margin: 45% (up from 14% in 2Q 2022). The increase in margin was primarily driven by lower expenses.
EPS: US$3.46 (up from US$1.00 in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
NetApp EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates significantly.
Looking ahead, revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Tech industry in the US.
The company's shares are down 8.8% from a week ago.
What about risks? Every company has them, and we've spotted 1 warning sign for NetApp you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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