NetApp Beat Earnings Estimates. So Why Did the Nvidia Partner's Stock Plummet?

Key TakeawaysNetApp's quarterly sales and profit topped estimates, but shares of the data infrastructure firm slumped on Thursday.Although NetApp generated strong sales growth in its all-flash array memory products, it said macroeconomic uncertainties were weighing on IT spending.The post-earnings drop for NetApp shares marked a reversal from a strong year-to-date performance. Data storage provider NetApp (NTAP) posted better-than-expected sales and profits for its fiscal first quarter, but its shares plung ...