NetApp (NTAP) Surpasses Q3 Earnings and Revenue Estimates

Core Viewpoint - NetApp reported quarterly earnings of $2.12 per share, exceeding the Zacks Consensus Estimate of $2.07 per share, and showing an increase from $1.91 per share a year ago, indicating a positive earnings surprise of +2.52% [1] Financial Performance - The company achieved revenues of $1.71 billion for the quarter ended January 2026, surpassing the Zacks Consensus Estimate by 1.60% and up from $1.64 billion year-over-year [2] - Over the last four quarters, NetApp has consistently exceeded consensus EPS estimates and revenue estimates [2] Stock Performance - NetApp shares have declined approximately 4.9% since the beginning of the year, contrasting with the S&P 500's gain of 1.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.23 on revenues of $1.79 billion, and for the current fiscal year, it is $7.90 on revenues of $6.75 billion [7] - The trend of earnings estimate revisions is mixed ahead of the earnings release, which could influence future stock performance [6] Industry Context - The Computer-Storage Devices industry, to which NetApp belongs, is currently ranked in the top 16% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]