NetApp Q1 2022 Earnings Report
Key Takeaways
NetApp reported a strong start to fiscal year 2022, with double-digit revenue and billings growth. Net revenues for the first quarter grew 12% year-over-year to $1.46 billion. Public Cloud revenue increased 155% year-over-year.
Net revenues grew 12% year-over-year to $1.46 billion.
Public Cloud revenue increased 155% year-over-year.
All-flash array annualized net revenue run rate increased 23% year-over-year to $2.8 billion.
GAAP net income per share of $0.88, compared to $0.35 in the first quarter of fiscal year 2021; non-GAAP net income per share of $1.15, compared to $0.73 in the first quarter of fiscal year 2021
NetApp
NetApp
Forward Guidance
The Company provided the following financial guidance for the second quarter of fiscal year 2022: Net revenues are expected to be in the range of: $1.49 billion to $1.59 billion GAAP Non-GAAP Earnings per share is expected to be in the range of: $0.88 - $0.98 $1.14 - $1.24