NetApp (NASDAQ:NTAP) share soared more than 11% after-hours following the company’s reported Q2 results, with EPS of $1.58 coming in better than the consensus estimate of $1.39.
Revenue fell 6% year-over-year (down 8% in constant currency) to $1.56 billion, beating the consensus estimate of $1.53B. Billings declined 9% year-over-year to $1.45B.
“We delivered another strong quarter, with revenue above the midpoint of our guidance and all-time highs for gross margins, operating margins, and EPS,” said CEO George Kurian.
For Q3/24, the company expects EPS in the range of $1.64-$1.74, compared to the consensus of $1.53, and revenue in the range of $1.51-$1.67B, compared to the consensus of $1.555B.
For the full year, the company now sees EPS at $6.05-$6.25, better than the consensus estimate of $5.73, and revenues to be down approximately 2% year-over-year.