NetApp (NTAP) Tops Q1 EPS by 10c; Issues Solid Outlook

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Go back to NetApp (NTAP) Tops Q1 EPS by 10c; Issues Solid Outlook

NetApp Reports First Quarter of Fiscal Year 2023 Results

August 24, 2022 4:01 PM EDT

Delivers company record for Q1 billings, revenue, gross profit dollars, operating income, and EPS

Net revenues for the first quarter grew 9% year-over-year to $1.59 billion, 13% in constant currency1 Q1 product revenue grew 8% year-over-year to $786 million, the sixth consecutive quarter of year-over-year growth Q1 billings2 were $1.56 billion, an increase of 13% year-over-year, 18% in constant currency NetApp Public Cloud annualized revenue run rate (ARR)3 increased 73% year-over-year to $584 million All-flash array ARR4 increased 7% year-over-year to $3.0 billion $460 million returned to shareholders in share repurchases and cash dividends

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