NetApp shares see-saw after mixed quarterly results

NetApp Inc. NTAP, -0.35% shares wavered between gains and losses in the extended session Wednesday after the cloud data storage company reported mixed fiscal 2019 first-quarter results. NetApp said it earned $283 million, or $1.05 a share, in the quarter, compared with $131 million, or 47 cents a share, in the first quarter of fiscal 2018. Adjusted for one-time items, the company earned $281 million, or $1.04 a share, compared with $166 million, or 60 cents a share, in the first quarter of fiscal 2018. Revenue rose 12% to $1.47 billion, compared with $1.32 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 80 cents a share on sales of $1.42 billion. Shares initially rose more than 3%, but recently fell 0.3%. The stock ended the trading day down 0.3%.

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