NetApp Beat Earnings Estimates. So Why Did the Nvidia Partner's Stock Plummet?
NTAPNetApp(NTAP) Investopedia·2024-08-30 05:26

Key TakeawaysNetApp's quarterly sales and profit topped estimates, but shares of the data infrastructure firm slumped on Thursday.Although NetApp generated strong sales growth in its all-flash array memory products, it said macroeconomic uncertainties were weighing on IT spending.The post-earnings drop for NetApp shares marked a reversal from a strong year-to-date performance. Data storage provider NetApp (NTAP) posted better-than-expected sales and profits for its fiscal first quarter, but its shares plung ...