NetApp Q4 revenue beats estimates, helped by hybrid cloud demand

NetApp

28/05/2026 21:11

Overview
US data infrastructure firm's fiscal Q4 revenue rose 12%, beating analyst expectations
Adjusted EPS for fiscal Q4 beat consensus
Company cites record results across revenue, profit and cash flow, driven by hybrid cloud demand

Outlook
NetApp sees Q1 net revenues between $1.75 bln and $1.9 bln
Company expects FY27 net revenues between $7.325 bln and $7.575 bln
NetApp expects FY27 GAAP EPS between $6.51 and $6.81, non-GAAP EPS $8.70-$9.00

Result Drivers
ALL-FLASH ARRAY GROWTH - Record all-flash array net revenue rose 18% year-over-year in Q4, supporting overall revenue growth
HYBRID AND PUBLIC CLOUD DEMAND - Hybrid cloud segment revenue grew 13% and public cloud revenue rose 11% in Q4, reflecting continued customer adoption
PRODUCT INNOVATION - Launch of next-generation AI solutions and expanded strategic partnerships contributed to growth

Company press release: ID:nBw1nsM85a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$1.95 bln
$1.87 bln (15 Analysts)
Q4 Adjusted EPS
Beat
$2.43
$2.27 (17 Analysts)
Q4 EPS
 
$2.03
 
Q4 Net Income
 
$404 mln
 

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 1 "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 18.7% below its May 27 closing price of $142.74
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)