NetApp stock falls more than 10% after fiscal 2023 guidance disappoints

NetApp stock falls more than 10% after fiscal 2023 guidance disappoints

Shares of NetApp Inc. dropped more than 10% in the extended session Tuesday after the cloud-computing company reported fiscal second-quarter earnings above expectations but guidance came lower than estimates. NetApp earned $750 million, or $3.41 a share, compared with $224 million, or 98 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $1.48 a share. Revenue rose 6% to $1.66 billion, the company said. Analysts polled by FactSet expected the company to report