NetApp Up 13% After Strong Earnings, Citing AI Storage Demand
NetApp shares jumped 13% to near $161 in after-hours trading Thursday after the company beat Wall Street estimates with $1.95 billion in quarterly revenue and $2.43 adjusted EPS. The company forecast fiscal 2027 revenue up to $7.575 billion, citing strong AI and cloud demand. All-flash array revenue hit a record $1.2 billion. NetApp warned of margin risks from rising memory and component costs.