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Actionable news in NTAP: NetApp, Inc.,

UPDATE 1-NetApp profit beats estimates as cost cuts, cloud focus pay off

(Adds details, CEO comment)

By Anya George Tharakan

Nov 18 NetApp Inc 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 Inc.

NetApp faces strong competition from EMC Corp, which is being...