NetApp (NTAP) Matches Q3 Earnings Estimates

Group 1: Earnings Performance - NetApp reported quarterly earnings of $1.91 per share, matching the Zacks Consensus Estimate, compared to $1.94 per share a year ago [1] - The company posted revenues of $1.64 billion for the quarter ended January 2025, missing the Zacks Consensus Estimate by 3.09%, and showing a slight increase from $1.61 billion year-over-year [2] - Over the last four quarters, NetApp has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2][1] Group 2: Stock Performance and Outlook - NetApp shares have increased approximately 7.2% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] - The company's earnings outlook is crucial for determining future stock movements, with current consensus EPS estimates at $2 on $1.76 billion in revenues for the coming quarter and $7.33 on $6.66 billion in revenues for the current fiscal year [4][7] - The estimate revisions trend for NetApp is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Group 3: Industry Context - The Computer-Storage Devices industry, to which NetApp belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]