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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.