NetApp Q1 adjusted profit beats estimates

NetApp

27/08/2025 21:09

Overview

NetApp fiscal Q1 revenue of $1.56 bln beats analyst expectations, per LSEG data

Adjusted EPS of $1.55 beats consensus

All-flash array revenue grows 6% yr/yr; public cloud services up 33%

Outlook

NetApp sees Q2 revenue between $1.615 bln and $1.765 bln

Company expects FY 2026 revenue between $6.625 bln and $6.875 bln

NetApp projects Q2 EPS of $1.35-$1.45 GAAP, $1.84-$1.94 non-GAAP

Company anticipates FY 2026 EPS of $5.72-$6.02 GAAP, $7.60-$7.90 non-GAAP

Result Drivers

ALL-FLASH ARRAY - Revenue from all-flash arrays grew 6% year-over-year, reaching $893 mln, contributing significantly to overall revenue

PUBLIC CLOUD SERVICES - First-party and marketplace public cloud storage services revenue increased by 33% year-over-year, supporting revenue growth

BILLINGS GROWTH - Billings rose 4% year-over-year to $1.51 bln, marking the seventh consecutive quarter of year-over-year growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$1.56 bln
$1.55 bln (14 Analysts)
Q1 Adjusted EPS
Beat
$1.55
$1.54 (16 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 14 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the computer hardware peer group is "buy."

Wall Street's median 12-month price target for NetApp Inc is $116.00, about 5.7% above its August 26 closing price of $109.41

Press Release: ID:nBw9jdqRKa

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)