NetApp (NASDAQ:NTAP) Strikes 52 week High Stock on Robust Earnings

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NetApp Inc. (NASDAQ:NTAP) climbed 3.68% to $30.7190 after making a new 52-week high at $31.10. NetApp said it earned $96 million, or 27 cents a share, on revenue of $910 million, compared with earnings of $43 million, or 13 cents a share, on $912 million in sales during the same period a year ago. Excluding one-time items, the storage-technology company would have earned $130 million, or 37 cents a share.

By that measure, NetApp beat the estimates of analysts surveyed by Thomson Reuters, who forecast the company to earn 30 cents a share on $881.6 million in revenue.

ales of storage products accounted to $525 million in revenue during the quarter, while services deals made up $215 million in sales and software entitlements and maintenance revenue totaled $215 million.

For its fiscal third-quarter, NetApp estimates it will earn between 24 cents and 25 cents a share, on revenue in a range of $935 million to $955 million. Excluding one-time items, NetApp forecasts a profit of 36 cents to 37 cents a share.

Analysts had previously pegged NetApp's third-quarter earnings, excluding one-time items, at 36 cents a share on $921.6 million in sales.