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Oct 28, 2022
NetApp Q2 2023 Earnings Report
NetApp achieved all-time Q2 company highs for revenue, billings, gross profit dollars, operating income, and EPS.
Key Takeaways
NetApp reported a solid quarter with all-time highs for Q2 revenue, billings, gross profit dollars, operating income, and EPS. Net revenues for the second quarter grew 6% year-over-year to $1.66 billion.
Net revenues for the second quarter grew 6% year-over-year to $1.66 billion, 12% in constant currency
Q2 product revenue grew 3% year-over-year to $837 million, the seventh consecutive quarter of year-over-year growth
NetApp™ Public Cloud annualized revenue run rate (ARR) increased 55% year-over-year to $603 million
$258 million returned to shareholders in share repurchases and cash dividends in the second quarter
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Net revenues are expected to be in the range of: $1.525 billion to $1.675 billion. GAAP Earnings per share is expected to be in the range of: $0.88 - $0.98. Non-GAAP Earnings per share is expected to be in the range of: $1.25 - $1.35
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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