NetApp quarterly revenue forecast disappoints, shares fall 6%

NetApp forecast second-quarter revenue marginally ahead of estimates on Wednesday, as enterprises soften spending on cloud-based storage services in an uncertain economy, sending its shares down nearly 6% in extended trading.

NetApp, which also reported quarterly revenue slightly above estimates, helps businesses improve efficiency of their data storage infrastructure and counts companies including Amazon.com’s Amazon Web Services, Google Cloud and Microsoft’s Azure as clients.