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Jan 26, 2024
NetApp Q3 2024 Earnings Report
NetApp's Q3 2024 results showed revenue growth and record profitability metrics.
Key Takeaways
NetApp reported a 5% year-over-year increase in net revenues, reaching $1.61 billion. The company achieved record GAAP and non-GAAP gross margins, as well as record non-GAAP operating margins. GAAP net income per share was $1.48, and non-GAAP net income per share reached a record $1.94.
Net revenues reached $1.61 billion, a 5% increase year-over-year.
All-flash array annualized revenue run rate reached a record $3.4 billion, up 21% year-over-year.
GAAP consolidated gross margins were a record 72%, with non-GAAP gross margins at a record 73%.
GAAP operating margins were 23%, with non-GAAP operating margins at a record 30%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
NetApp expects net revenues to be in the range of $1.585 billion - $1.735 billion and earnings per share to be in the range of $1.25 - $1.35 (GAAP) and $1.73 - $1.83 (Non-GAAP) for the fourth quarter of fiscal year 2024.
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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