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Jan 27, 2023
NetApp Q3 2023 Earnings Report
NetApp's Q3 2023 financial results were reported, with revenue decreasing by 5% year-over-year.
Key Takeaways
NetApp reported Q3 2023 results with net revenues of $1.53 billion, a 5% decrease year-over-year. The company returned $308 million to shareholders through share repurchases and cash dividends. Public Cloud segment revenue grew to $150 million, while Hybrid Cloud segment revenue was $1.38 billion.
Net revenues were $1.53 billion, a 5% decrease year-over-year.
Hybrid Cloud segment revenue was $1.38 billion, compared to $1.50 billion in Q3 2022.
Public Cloud segment revenue was $150 million, compared to $110 million in Q3 2022.
GAAP net income was $65 million, compared to $252 million in Q3 2022.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company provided the following financial guidance for the third quarter of fiscal year 2023: Net revenues are expected to be in the range of: $1.475 billion to $1.625 billion GAAP Non-GAAP Earnings per share is expected to be in the range of: $0.92 - $1.02 $1.30 - $1.40
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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