NetApp IncNTAP
▲ PositiveCapitalrelevance
NetApp beat revenue and EPS estimates, with strong product and hybrid cloud revenue and margins.
Impact on stocks 2
Cloud & Digital Infrastructure
NetApp IncOthers
NetApp reported fiscal first-quarter revenue of $2.03 billion, up 29.9% year over year, and EPS of $2.58, up from $1.55 a year ago, both beating Zacks Consensus Estimates. Revenue surpassed the $1.84 billion estimate by 9.86%, while EPS exceeded the $2.13 estimate by 21.13%. Key metrics also outperformed, with product revenue at $987 million versus the $807.36 million estimate, and hybrid cloud revenue at $1.82 billion versus the $1.65 billion estimate. The company's gross margin for products came in at 54.6%, above the 50.8% estimate, and services gross margin was 85.7%, above the 84.1% estimate. NetApp shares have declined 3.8% over the past month, compared to the S&P 500's 2% gain, and the stock holds a Zacks Rank #2 (Buy).
NetApp IncNetApp beat revenue and EPS estimates, with strong product and hybrid cloud revenue and margins.
