NetApp Q2 FY24 revenue $1.56B (-6% YoY); non-GAAP EPS $1.58 (record) beats; gross margins 72% record

NetApp, Inc.

2024-Q2 EPS reported $1.79 revenue$2,994,000,000

Revenue $1.56B down 6% YoY; GAAP EPS $1.10 vs $3.41 prior year; non-GAAP EPS record $1.58 vs $1.48.
Record non-GAAP gross margins 72% and operating margins 27%; cash from ops $135M vs $214M.
Hybrid Cloud segment $1.41B (-7% YoY); Public Cloud $154M (+8% YoY); Public Cloud ARR $609M (+1%).
Q3 guidance: revenue $1.51-$1.67B, non-GAAP EPS $1.64-$1.74; full year non-GAAP EPS $6.05-$6.25.
Returned $403M to shareholders via buybacks and dividends; quarterly dividend $0.50 payable Jan 24, 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NetApp, Inc. reported second quarter ended October 27, 2023 results: revenue $1.56 billion, net income GAAP net income of $233 million, EPS GAAP net income per share of $1.10. Guidance reaffirmed.

Period: second quarter ended October 27, 2023
Revenue: $1.56 billion
Net income: GAAP net income of $233 million
EPS: GAAP net income per share of $1.10
Guidance: reaffirmed
Result: reported results

Exact text from the filing

12(a)(2) of the Securities Act of 1933, as amended. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 NetApp reports second quarter of fiscal year 2024 results Net revenues of $1.56 billion for the second quarter • Introduced substantial innovation including the ASA C-Series, the extension of the Company’s Ransomware Recovery Guarantee, and performance and

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Source: SEC EDGAR

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