NetApp (NTAP) Blows Past Q1 and Outlook Estimates, Firms Raise PTs but Say Much of This Strength Already Priced Into Shares

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Go back to NetApp (NTAP) Blows Past Q1 and Outlook Estimates, Firms Raise PTs but Say Much of This Strength Already Priced Into Shares

NetApp Reports First Quarter of Fiscal Year 2022 Results

August 25, 2021 4:01 PM EDT

Net revenues for the first quarter grew 12% year-over-year to $1.46 billion;
Delivered strong start to fiscal year 2022 with double digit revenue and billings growth

NetApp Public Cloud revenue increased 155% year-over-year All-flash array annualized net revenue run rate1 increased 23% year-over-year to $2.8 billion Product revenue grew 16% year-over-year to $730 million Billings2 increased 20% year-over-year to $1.38 billion $242 million in cash provided by operations; $191 million in free cash flow2 Increased financial guidance for the full fiscal year 2022

SAN JOSE, Calif.--(BUSINESS WIRE)-- NetApp (NASDAQ:... More