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Economic Times
3 days ago
- Business
- Economic Times
NetApp forecasts annual revenue below estimate on weak data storage demand
Macroeconomic volatility stemming from a global trade war and tariff threats have prompted enterprises to keep a tight leash on spending, impacting demand for cloud storage and data processing services provided by companies such as NetApp. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NetApp forecast fiscal 2026 revenue below Wall Street expectations on Thursday, hit by sluggish spending on its cloud data storage services as enterprises cut budgets amid economic uncertainty , sending its shares down 5% in extended volatility stemming from a global trade war and tariff threats have prompted enterprises to keep a tight leash on spending, impacting demand for cloud storage and data processing services provided by companies such as helps businesses improve the efficiency of their data storage infrastructure and counts companies such Amazon Web Services, Alphabet's Google Cloud and Microsoft's Azure as company forecast full-year revenue of between $6.63 billion and $6.88 billion, the midpoint of which came in below the estimate of $6.86 billion, according to data compiled by expects first-quarter revenue of between $1.46 billion and $1.61 billion, compared with the estimate of $1.61 for the fourth quarter came in at $1.73 billion, beating the estimate of $1.72 reported profit per share of $1.65 for the quarter, compared with a profit of $1.37 a year ago.
Economic Times
3 days ago
- Automotive
- Economic Times
Amazon's Zoox issues second software recall this month after San Francisco crash
self-driving unit Zoox has issued a second software recall this month to improve how its vehicles track nearby pedestrians and prevent movement when someone is close, following a crash in San Francisco earlier this month. The recall covers 270 vehicles equipped with its Automated Driving Systems software, which had versions released prior to May 21, Zoox said in a report with the National Highway Traffic Safety Administration on Thursday. Zoox has updated the software. On May 8, an unoccupied Zoox robotaxi was struck by an electric scooter while turning at low speed at a San Francisco intersection, the company said last week. The rider sustained minor injuries and fell next to the vehicle, which continued turning and then stopped without making further contact, it said. Earlier this month, Zoox had issued a software recall for 270 driverless vehicles after an unoccupied robotaxi was involved in an April 8 crash with a passenger car in Las Vegas. In April, NHTSA closed a probe into 258 Zoox vehicles over a braking issue after the company issued a recall to update their software.
Time of India
3 days ago
- Automotive
- Time of India
Amazon's Zoox issues second software recall this month after San Francisco crash
The recall covers 270 vehicles equipped with its Automated Driving Systems software, which had versions released prior to May 21, Zoox said in a report with the National Highway Traffic Safety Administration on Thursday. Zoox has updated the software. Tired of too many ads? Remove Ads self-driving unit Zoox has issued a second software recall this month to improve how its vehicles track nearby pedestrians and prevent movement when someone is close, following a crash in San Francisco earlier this recall covers 270 vehicles equipped with its Automated Driving Systems software, which had versions released prior to May 21, Zoox said in a report with the National Highway Traffic Safety Administration on Thursday. Zoox has updated the May 8, an unoccupied Zoox robotaxi was struck by an electric scooter while turning at low speed at a San Francisco intersection, the company said last rider sustained minor injuries and fell next to the vehicle, which continued turning and then stopped without making further contact, it this month, Zoox had issued a software recall for 270 driverless vehicles after an unoccupied robotaxi was involved in an April 8 crash with a passenger car in Las April, NHTSA closed a probe into 258 Zoox vehicles over a braking issue after the company issued a recall to update their software.
Time of India
3 days ago
- Business
- Time of India
NetApp forecasts annual revenue below estimate on weak data storage demand
NetApp forecast fiscal 2026 revenue below Wall Street expectations on Thursday, hit by sluggish spending on its cloud data storage services as enterprises cut budgets amid economic uncertainty , sending its shares down 5% in extended trading. Macroeconomic volatility stemming from a global trade war and tariff threats have prompted enterprises to keep a tight leash on spending, impacting demand for cloud storage and data processing services provided by companies such as NetApp. NetApp helps businesses improve the efficiency of their data storage infrastructure and counts companies such Amazon Web Services, Alphabet's Google Cloud and Microsoft's Azure as clients. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trekking pants for mountain sports and adventure travel Trek Kit India Shop Now Undo The company forecast full-year revenue of between $6.63 billion and $6.88 billion, the midpoint of which came in below the estimate of $6.86 billion, according to data compiled by LSEG. It expects first-quarter revenue of between $1.46 billion and $1.61 billion, compared with the estimate of $1.61 billion. Live Events Revenue for the fourth quarter came in at $1.73 billion, beating the estimate of $1.72 billion. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories NetApp reported profit per share of $1.65 for the quarter, compared with a profit of $1.37 a year ago.
Time of India
3 days ago
- Business
- Time of India
NetApp forecasts annual revenue below estimate on weak data storage demand
NetApp forecast fiscal 2026 revenue below Wall Street expectations on Thursday, hit by sluggish spending on its cloud data storage services as enterprises cut budgets amid economic uncertainty , sending its shares down 5% in extended trading. Macroeconomic volatility stemming from a global trade war and tariff threats have prompted enterprises to keep a tight leash on spending, impacting demand for cloud storage and data processing services provided by companies such as NetApp. NetApp helps businesses improve the efficiency of their data storage infrastructure and counts companies such Amazon Web Services , Alphabet's Google Cloud and Microsoft's Azure as clients. The company forecast full-year revenue of between $6.63 billion and $6.88 billion, the midpoint of which came in below the estimate of $6.86 billion, according to data compiled by LSEG. It expects first-quarter revenue of between $1.46 billion and $1.61 billion, compared with the estimate of $1.61 billion. Revenue for the fourth quarter came in at $1.73 billion, beating the estimate of $1.72 billion. NetApp reported profit per share of $1.65 for the quarter, compared with a profit of $1.37 a year ago.
