Company forecasts better profit and sales trends
- NetApp stock jumps 9.7% on upbeat full-year outlook
- Company expects revenue to be down approximately 2%
- Adjusted earnings per share forecasted at $6.05 to $6.25
- Fiscal second-quarter results surpass expectations
Shares of NetApp Inc. surged 9.7% after the company provided a more optimistic outlook for its full fiscal year. NetApp expects its revenue for the year to decline by approximately 2%, beating FactSet forecasts of a 3.5% decrease. The company also raised its adjusted earnings per share forecast to a range of $6.05 to $6.25, surpassing estimates of $5.73. In addition, NetApp’s fiscal second-quarter results exceeded expectations.
Public Companies: NetApp Inc. (NTAP)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides specific information about NetApp Inc.’s forecasted profit and sales trends for its full fiscal year, as well as the company’s actual fiscal second-quarter results. The information is based on statements from the company’s management and includes comparisons with FactSet forecasts and earlier expectations. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. It also does not include any digressions, unnecessary background information, or details tangential to the main topic. The reporting appears to be accurate and objective, without any bias or personal perspective presented as universally accepted truth. Overall, the article provides factual information about NetApp Inc.’s financial performance and outlook.
Noise Level: 8
Justification: The article provides information on NetApp Inc.’s positive forecast for profit and sales trends, as well as beating expectations in the fiscal second quarter. However, it lacks in-depth analysis, evidence, or actionable insights. It also does not explore the consequences of the company’s decisions on those who bear the risks. Overall, the article contains mostly promotional content without much substance.
Financial Relevance: Yes
Financial Markets Impacted: Shares of NetApp Inc.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the forecasted profit and sales trends of NetApp Inc. The company’s positive outlook for its full fiscal year resulted in a 9.7% jump in its shares after hours. However, there is no mention of any extreme event in the article.
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