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Apr 26, 2024
NetApp Q4 2024 Earnings Report
NetApp's Q4 2024 results were reported, showing revenue growth and record annual gross and operating margins.
Key Takeaways
NetApp reported Q4 2024 net revenues of $1.67 billion, a 6% increase year-over-year. The company achieved record annual gross margins, operating margins, and EPS. Net income for the quarter was $291 million, or $1.37 per share.
Net revenues for the fourth quarter were $1.67 billion, up 6% year-over-year.
GAAP net income was $291 million, or $1.37 per share, compared to $245 million, or $1.13 per share in the fourth quarter of fiscal year 2023.
Non-GAAP net income was $382 million, or $1.80 per share, compared to $334 million, or $1.54 per share in the fourth quarter of fiscal year 2023.
The company increased its quarterly dividend to $0.52 per share and authorized an additional $1 billion for share repurchases.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
NetApp provided financial guidance for the first quarter and full fiscal year 2025.
Positive Outlook
- Net revenues are expected to be in the range of $1.455 billion - $1.605 billion for Q1 2025
- Q1 2025 GAAP earnings per share is expected to be in the range of $0.98 - $1.08
- Q1 2025 Non-GAAP earnings per share is expected to be in the range of $1.40 - $1.50
- Net revenues are expected to be in the range of $6.450 billion – $6.650 billion for FY 2025
- FY 2025 Consolidated gross margins are expected to be in the range of 70% - 71% (GAAP) and 71% - 72% (Non-GAAP)
Challenges Ahead
- FY 2025 Operating margins are expected to be in the range of: 20% - 21% (GAAP)
- FY 2025 Operating margins are expected to be in the range of: 27% - 28% (Non-GAAP)
- FY 2025 Earnings per share is expected to be in the range of: $4.96 - $5.16 (GAAP)
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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