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$NTAP (+0,62ย %) | NetApp Q2 Earnings Highlights:


๐Ÿ”น Adj EPS: $1.87 (Est. $1.78) ๐ŸŸข; UP +18% YoY

๐Ÿ”น Revenue: $1.66B (Est. $1.65B) ๐ŸŸข; UP +6% YoY


Q3 Guidance:

๐Ÿ”น Revenue: $1.61B-$1.76B (Est. $1.68B) ๐ŸŸก

๐Ÿ”น Adjusted EPS: $1.85-$1.95 (Est. $1.85) ๐ŸŸก


FY25 Guidance:

๐Ÿ”น Revenue: $6.54B-$6.74B (Prev. $6.48B-$6.68B, Est. $6.68B) ๐ŸŸก; UP +8%-9% YoY

๐Ÿ”น Adj EPS: $7.20-$7.40 (Prev. $7.00-$7.20, Est. $7.11) ๐ŸŸก

๐Ÿ”น Adjusted Operating Margin: 28%-28.5% (Prev. 27%-28%) ๐ŸŸข


Q2 Segment Performance:

๐Ÿ”น Hybrid Cloud Revenue: $1.49B; UP +5.8% YoY (Met Estimate)

๐Ÿ”น Public Cloud Revenue: $168M (Est. $164.3M) ๐ŸŸข; UP +9.1% YoY

๐Ÿ”น Product Revenue: $768M (Est. $769.8M) ๐ŸŸก; UP +8.8% YoY

๐Ÿ”น Support Revenue: $635M (Est. $633.5M) ๐ŸŸข; UP +1.9% YoY


Profitability Metrics:

๐Ÿ”น Non-GAAP Gross Margin: 71.5% (Est. 71.6%) ๐ŸŸก

๐Ÿ”น Non-GAAP Operating Margin: 29% (Est. 27.9%) ๐ŸŸข

๐Ÿ”น GAAP Net Income: $299M; UP +28% YoY

๐Ÿ”น Free Cash Flow: $105M


Business Highlights:

๐Ÿ”น All-Flash Array ARR: $3.8B; UP +19% YoY

๐Ÿ”น Cloud Storage Services: +43% YoY

๐Ÿ”น Expanded partnerships with Google Cloud and AWS for AI-ready infrastructure.


Capital Allocation:

๐Ÿ”น Cash & Investments: $2.22B

๐Ÿ”น Shareholder Returns: $406M through share repurchases and dividends.

๐Ÿ”น Dividend: $0.52/share payable January 22, 2025.


Management Commentary:

๐Ÿ”ธ CEO George Kurian:

"Our strong Q2 performance was driven by record-breaking all-flash storage and robust cloud storage growth. We are well-positioned to outpace the market and deliver outstanding value for our customers and shareholders."

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