Investing.com - NetApp (NASDAQ:NTAP) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that was inline with expectations.
NetApp announced earnings per share of $1.42 on revenue of $1.68B. Analysts polled by Investing.com anticipated EPS of $1.28 on revenue of $1.68B.
NetApp shares are down 21% from the beginning of the year and are trading at $76.77 , down-from-52-week-high.They are under-performing the S&P 500 which is down 13.96% from the start of the year.
NetApp shares gained 5.88% in after-hours trade the report.
NetApp follows other major Information Technology sector earnings this month
NetApp's report follows an earnings beat by NVIDIA on Wednesday, May 25, 2022, who reported EPS of $1.36 on revenue of $8.29B, compared to forecasts EPS of $1.3 on revenue of $8.12B.
Broadcom had beat expectations on Thursday, May 26, 2022 with second quarter EPS of $9.07 on revenue of $8.1B, compared to forecast for EPS of $8.71 on revenue of $7.91B.
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