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Jul 31, 2020
NetApp Q1 2021 Earnings Report
Net revenues increased and EPS exceeded guidance despite a challenging environment.
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
NetApp Revenue by Geographic Location
Revenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income