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Oct 29, 2021
NetApp Q2 2022 Earnings Report
NetApp demonstrated strong growth and expanded its cloud partnerships.
Key Takeaways
NetApp reported strong second-quarter results, with revenue growth driven by expanded cloud partnerships and substantial innovation. The company's performance exceeded guidance, leading to raised full-year expectations for revenue, EPS, and Public Cloud ARR. NetApp is gaining market share in all-flash and object storage while rapidly scaling its public cloud business.
Net revenues grew 11% year-over-year to $1.57 billion.
Public Cloud ARR increased 80% year-over-year to $388 million.
All-flash array annualized net revenue run rate increased 22% year-over-year to $3.1 billion.
GAAP net income per share of $0.98, compared to $0.61 in the second quarter of fiscal year 2021
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company provided the following financial guidance for the third quarter of fiscal year 2022: Net revenues are expected to be in the range of: $1.525 billion to $1.675 billion GAAP Non-GAAP Earnings per share is expected to be in the range of: $0.93 - $1.03 $1.21 - $1.31
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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