NetApp Q2 2021 Earnings Report
Key Takeaways
NetApp reported a 3% year-over-year increase in net revenues, reaching $1.42 billion in the second quarter of fiscal year 2021. The company's public cloud services experienced substantial growth, with an annualized revenue run rate of $216 million, up 200% year-over-year. GAAP net income was $137 million, or $0.61 per share, while non-GAAP net income was $236 million, or $1.05 per share.
Net revenues increased to $1.42 billion, a 3% rise year-over-year.
Public cloud services annualized revenue run rate grew by 200% to $216 million.
GAAP net income was reported at $137 million, with earnings per share at $0.61.
The company returned $107 million to shareholders through cash dividends.
NetApp
NetApp
NetApp Revenue by Geographic Location
Forward Guidance
NetApp expects net revenues to be in the range of $1.34 billion to $1.49 billion and GAAP earnings per share to be between $0.67 and $0.75 for the third quarter of fiscal year 2021.
Positive Outlook
- Net revenues are expected to be in the range of $1.34 billion to $1.49 billion
- GAAP Earnings per share is expected to be in the range of $0.67 - $0.75
- Non-GAAP Earnings per share is expected to be in the range of: $0.94 - $1.02
- Next cash dividend of $0.48 per share is to be paid on January 27, 2021
- Expanded hybrid cloud customer value proposition with industry-leading innovations
Revenue & Expenses
Visualization of income flow from segment revenue to net income