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Apr 25, 2025
NetApp Q4 2025 Earnings Report
NetApp reported record fourth-quarter results with growth across both Hybrid Cloud and Public Cloud segments.
Key Takeaways
NetApp delivered a strong Q4 with revenue of $1.73B and net income of $340M. Both GAAP and non-GAAP EPS exceeded prior year figures, driven by strong cloud performance and strategic portfolio updates.
Q4 revenue reached $1.73 billion, up from $1.67 billion YoY.
Net income rose to $340 million from $291 million last year.
Public Cloud revenue grew to $164 million, reflecting increasing demand.
Returned $355 million to shareholders through dividends and repurchases.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
NetApp anticipates Q1 FY26 revenue between $1.455B and $1.605B and GAAP EPS between $1.06 and $1.16. FY26 outlook suggests continued growth, with investments in AI and cloud projected to drive momentum.
Positive Outlook
- Revenue guidance for FY26 between $6.625B and $6.875B
- Non-GAAP EPS guidance of $7.60 to $7.90 for FY26
- Cloud services continue to expand rapidly
- High gross and operating margins expected to persist
- Enhanced AI capabilities to drive enterprise adoption
Challenges Ahead
- Q1 guidance slightly below Q4 revenue
- Rising operating costs may pressure margins
- Cash provided by operations declined YoY
- Inventory turns slowed from prior quarter
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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