NetApp Q3 2020 Earnings Report
Key Takeaways
NetApp reported third quarter fiscal year 2020 results with strong gross margins, cash flow, and operating leverage. Net revenues were $1.40 billion, and GAAP net income was $277 million.
All-flash array annualized net revenue run rate of $2.3 billion increased 7% quarter-over-quarter
NetAppâ„¢ cloud data services annualized recurring revenue of approximately $83 million, an increase of 146% year-over-year
Consolidated GAAP gross margin of 67.0%, non-GAAP gross margin of 67.8%
$420 million in cash from operations; $388 million in free cash flow
NetApp
NetApp
Forward Guidance
The Company provided the following financial guidance for the fourth quarter of fiscal year 2020: •Net revenues are expected to be in the range of: $1.455 billion to $1.605 billion GAAP Non-GAAP •Earnings per share is expected to be in the range of: $1.11 -$1.19 $1.28 - $1.36