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NetApp shares slide even after earnings beat

NetApp Inc. NTAP, -0.34% stocks fell within the prolonged session Wednesday even after the hybrid cloud information corporate's effects topped Wall Street estimates and its outlook bookended the analyst consensus. NetApp stocks fell four.2% after hours, following a zero.3% decline to close the common session at $66.79. The corporate reported fiscal fourth-quarter internet income of $271 million, or 99 cents a share, compared with $190 million, or 68 cents a share, within the year-ago period. Adjusted earnings were $1.05 a share. Revenue rose to $1.64 billion from $1.48 billion within the year-ago period. Analysts surveyed by means of FactSet had estimated $1.01 a share on revenue of $1.6 billion. NetApp estimates adjusted earnings of 76 cents to 82 cents a share on revenue of $1.37 billion to $1.47 billion for the primary quarter. Analysts expect earnings of 78 cents a share on revenue of $1.41 billion.