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NetApp shares surge after easily topping earnings expectations

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Shares of NetApp spiked more than 17 percent Thursday after the company beat earnings and revenue estimates in the previous day.

NetApp is headed for its best day since Nov 13, 2008 when the company's stock jumped more than 16 percent.

The data storage company reported earnings of 46 cents per share, beating estimates by ten cents. The company posted revenue of $1.29 billion versus $1.26 billion estimates.

"Our focus on disciplined execution of our strategy is yielding results and starting to change the trajectory of our business," said CEO George Kurian in a press release Wednesday. "We remain sharply focused on operating more efficiently while delivering market-leading innovations that are aligned to our customers' business and IT transformation priorities."

NetApp's second quarter guidance expects net revenues to range between $1.27 billion and $1.42 billion.

NetApp's stock has climbed nearly 28 percent year to date.

NetApp's year-to-date performance: