NetApp issued earnings forecasts ahead of Wall Street expectations and delivered better-than-expected quarterly results, as the economic recovery boosted demand for data storage equipment. The company reported a profit, excluding items, of 40 cents per share in its fiscal third quarter that ended Jan. 29. That beat the average Wall Street forecast of 38 cents, according to Thomson Reuters.
Revenue rose to US$1.01 billion from US$746 million a year earlier, beating the average analyst forecast of US$955 million.
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