Shares of NetApp (NASDAQ: NTAP) are up 17% Thursday after the company released a quarterly financial results and surpassed expectations. NetApp is a high tech company provides software, systems and services to manage and store customer data. The company has a diversified portfolio of products and services in the information technology (IT) environments.
The company’s performance comparing to same time last year is very impressive. NetApp earned $64 million, which is equivalent to 23 cents a share, this quarter. Same time last year the company reported a net loss of $30 million, or 10 cents a share.
The high tech company provided good guidance, despite a relatively difficult competitive market of the digital storage industry. NetApp has issued an outlook for expected revenues in a range of $1.265 billion to $1.415 billion.
Shares of the company are up more than 40% since May.