NetApp (NASDAQ: NTAP), the intelligent data infrastructure company, announced its financial results for the first quarter of fiscal year 2025, which ended on July 26, 2024. The company achieved net revenues of $1.54 billion, representing an 8% increase compared to the same period last year.
George Kurian, CEO of NetApp, expressed his satisfaction with the results: “We started fiscal year 2025 with great momentum, showing strong revenue growth and setting records in first-quarter operating margin and earnings per share. These results are a testament to our solid execution in an uncertain macroeconomic environment and our confidence in the benefits for customers of NetApp’s intelligent data infrastructure platform.”
Financial Breakdown for the First Quarter:
– Net Revenues: $1.54 billion, compared to $1.43 billion in the first quarter of fiscal year 2024.
– Hybrid Cloud Segment: $1.38 billion, compared to $1.28 billion in the first quarter of fiscal year 2024.
– Public Cloud Segment: $159 million, compared to $154 million in the first quarter of fiscal year 2024.
– Billings: $1.45 billion, a 12% increase from the previous year.
– Annualized Net Revenues Run Rate of All-Flash Arrays: $3.4 billion, a 21% increase from the previous year.
– Net Income: $248 million under GAAP and $330 million under non-GAAP measures.
– Earnings per Share: $1.17 GAAP and $1.56 non-GAAP.
NetApp also returned $507 million to shareholders through share repurchases and cash dividends.
Financial Outlook for the Second Quarter and Fiscal Year 2025:
For the second quarter of fiscal year 2025, NetApp expects net revenues in the range of $1.565 to $1.715 billion, with projected earnings per share between $1.27 and $1.37 GAAP and between $1.73 and $1.83 non-GAAP.
For the full fiscal year 2025, the company anticipates net revenues between $6.480 and $6.680 billion, with expected operating margins between 20% and 21% under GAAP, and between 27% and 28% under non-GAAP. Earnings per share are projected between $5.17 and $5.37 GAAP, and between $7.00 and $7.20 non-GAAP.
Announcements and Recognition:
NetApp has introduced a range of product innovations, including the new All-Flash AFF A-Series family and enhanced models of StorageGRID. The company has also expanded its collaboration with Porsche Motorsport and announced strategic partnerships with ePlus and CISA, among others.
In terms of awards, NetApp has been recognized on several occasions, including being named a leader in the GigaOm Radar report for Kubernetes Data Storage and in Forbes’ Global 2000 list.
Leadership Change in Finance:
NetApp has announced the upcoming retirement of Mike Berry, the company’s CFO, on May 23, 2025. The company is searching for a successor, and Berry will continue in his role until the transition is completed.
via: NetApp