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NetApp profit misses consensus by 47.3% in fiscal Q2

NetApp Inc. said its normalized net income for the fiscal second quarter ended Oct. 24 amounted to 36 cents per share, compared with the S&P Capital IQ consensus estimate of 69 cents per share.

EPS rose 6.0% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $118.1 million, a decline from $120.2 million in the year-earlier period.

The normalized profit margin declined to 7.7% from 7.8% in the year-earlier period.

Total revenue totaled $1.54 billion, compared with $1.55 billion in the prior-year period, and total operating expenses totaled $1.35 billion, compared with $1.36 billion in the year-earlier period.

Reported net income decreased 5.4% year over year to $158.5 million, or 49 cents per share, from $167.6 million, or 48 cents per share.