NetApp Q1 2021 Earnings Report
Key Takeaways
NetApp reported a 5% year-over-year increase in net revenues, reaching $1.30 billion, and EPS exceeded guidance. The company's public cloud services annualized recurring revenue saw substantial growth, and strategic acquisitions were completed to enhance customer value in the cloud.
Net revenues reached $1.30 billion, a 5% increase year-over-year.
Public cloud services annualized recurring revenue grew by 192% year-over-year, reaching $178 million.
GAAP net income was $77 million, or $0.35 per share.
Non-GAAP net income was $163 million, or $0.73 per share.
NetApp
NetApp
Forward Guidance
NetApp expects net revenues to be in the range of $1.225 billion to $1.375 billion and earnings per share to be in the range of $0.28 to $0.36 (GAAP) and $0.66 to $0.74 (Non-GAAP) for the second quarter of fiscal year 2021.
Positive Outlook
- Net revenues are expected to be in the range of $1.225 billion to $1.375 billion.
- Earnings per share is expected to be in the range of $0.28 - $0.36 (GAAP).
- Earnings per share is expected to be in the range of $0.66 - $0.74 (Non-GAAP).
- Next cash dividend of $0.48 per share to be paid on October 28, 2020.
- Dividend will be paid to shareholders of record as of the close of business on October 9, 2020.