NetApp profit beats estimates as cloud focus, cost cuts pay off
NetApp has reported a quarterly profit that beat analysts' estimates, as the company's cost-control measures and a shift to cloud-based storage products begin to yield results.The data storage company has been focusing on the high-margin cloud-based products as businesses cut spending on traditional hardware storage systems.The company has overhauled its cloud product, Data Ontap, which protects and manages data at both its customers' data centers and cloud vendors such as Amazon.com.