NetApp Inc

NTAP

Equity

ISIN US64110D1046 / Valor 3906336

NASDAQ (2024-11-21)

USD 126.68+2.62%

NetApp Inc
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About company

NetApp Inc is a leading provider of data storage and management solutions, offering a wide range of products and services to meet the needs of customers and partners. The company focuses on continually improving its solutions, products, support, services, and business processes to enhance customer satisfaction. With a strong commitment to meeting customer requirements, NetApp has established itself as a trusted partner in the data storage industry, delivering innovative solutions to help organizations manage and protect their data effectively.

Summarized from source with an LLMView SourceSector: Technology

Latest Results (23.05.2024):

#### Revenue Overview

NetApp Inc. reported a total net revenue of $1.58 billion in the fourth quarter of fiscal year 2023, marking a decrease of 6% from $1.68 billion in the same quarter of the previous year. This decline reflects a challenging economic environment, though partially offset by a stronger performance in the Public Cloud segment.

#### Earnings Details

For the fourth quarter of fiscal year 2023, NetApp Inc. achieved GAAP net income of $245 million, down from $259 million in the prior year. Non-GAAP net income saw an increase, reaching $334 million compared to $324 million in the fourth quarter of fiscal year 2022, despite facing headwinds from foreign currency exchange rate changes.

#### Annual Performance

NetApp Inc.'s full-year financial results for fiscal year 2023 showed a slight increase in net revenues, totaling $6.36 billion compared to $6.32 billion in fiscal year 2022. This represents a year-over-year growth of 1%, or 4% on a constant currency basis, highlighting modest growth amidst global economic fluctuations.

#### Future Outlook

Looking ahead to the first quarter of fiscal year 2024, NetApp Inc. anticipates net revenues to range between $1.325 billion and $1.475 billion. The company also provided earnings per share guidance, expecting GAAP EPS between $0.62 and $0.72 and non-GAAP EPS between $1.00 and $1.10.

#### Dividend Announcement

NetApp Inc. has declared a quarterly cash dividend of $0.50 per share, payable on July 26, 2023, to shareholders of record as of July 7, 2023. This dividend payment underscores the company's ongoing commitment to returning value to its shareholders.

Summarized from source with an LLMView Source

Key figures

63.6%1Y

47.3%3Y

109%5Y

Performance

31.5%1Y

30.0%3Y

35.6%5Y

Volatility