5 Stocks in Focus After Releasing Their Earnings Reports

4. NetApp, Inc. (NASDAQ:NTAP)

Number of Hedge Fund Holders: 37

Shares of NetApp, Inc. (NASDAQ:NTAP) rose over three percent in the extended hours on Wednesday, June 1, 2022, after posting solid profit and sales for its fiscal fourth quarter. The data management company earned $1.42 per share on an adjusted basis, up from $1.17 per share in the same period of 2021.

Revenue for the quarter increased to $1.68 billion, from $1.56 billion in the year-ago period. Analysts were expecting NetApp, Inc. (NASDAQ:NTAP) to report earnings of $1.28 per share on revenue of $1.68 billion.

If we look at the performance of its flagship segments, revenue from the Hybrid Cloud business increased to $1.56 billion versus $1.49 billion in the year-ago period. In comparison, revenue from the Public Cloud segment nearly doubled to $120 million in the quarter.

For the current quarter, NetApp, Inc. (NASDAQ:NTAP) projected adjusted earnings in the range of $1.05 – $1.15 per share. For the full year, the company anticipates adjusted earnings between $5.40 – $5.60 per share.