NetApp has announced good but not fabulous results for its latest quarter, and has a slowing growth forecast. Can it realistically catch up with EMC? NetApp earned a satisfyingly huge chunk of change in its second fiscal 2011 quarter, which finished on 29 October. Revenues were $1.207bn, up 33 per cent on the year-ago quarter, …
Just to be fair with NetApp EMEA folks: it looks like they are in line with the European rates of economic recovery. If I am not wrong, EMC's last results were: US up 21%, APAC 28%, Latin 23%, EMEA 14%. Hence, NetApp is pretty much on par with EMC in EMEA. Perhaps not as bullish as they would like, but nevertheless no disaster.
The emporor's new clothes
"The Wall Street estimates for the quarter were for revenues of up to $2.1bn and NetApp failed to beat the street."
When WILL people come to the conclusion that the predictions of the "Street" are not much more than glorified guess work.
It's bizarre and illogical: You Guessed; You guessed wrong; I get screwed.
Surely the more logical response is to say: Crap analyst! I'll listen to someone else next time!
Mr Kipling writes extremely nice posts
They beat the street estimates... they had a 33% increase in revenue yoy.
"Revenue was $1.2 billion, up from $910 million. Adjusted income was 52 cents a share.
Analysts were expecting NetApp to post earnings of 49 cents a share, on revenue of $1.2 billion, according to a consensus survey by FactSet Research."
The problem was they next quarter EPS forecast was not met because of dilution of the shares. And even that was only by a penny.
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