Earnings Alerts

NetApp Inc (NTAP) Earnings: Q2 Adjusted EPS Forecast Surpasses Estimates, Strong Q1 Results

  • NetApp Inc’s adjusted EPS forecast for Q2 is between $1.73 and $1.83, surpassing the estimate of $1.69.
  • Net revenue for Q2 is expected to be between $1.57 billion and $1.72 billion, compared to the estimate of $1.62 billion.
  • First quarter adjusted EPS reported at $1.56, up from $1.15 year-over-year, beating the estimate of $1.45.
  • First quarter net revenue of $1.54 billion, reflecting a 7.6% year-over-year increase, surpassing the estimate of $1.53 billion.
  • Hybrid cloud net revenue reached $1.38 billion, marking an 8.1% year-over-year increase, matching the estimate.
  • Product revenue stood at $669 million, showing a 13% year-over-year rise, but slightly below the estimate of $690.1 million.
  • Support revenue came in at $631 million, a 3.3% increase year-over-year, and slightly above the estimate of $626.7 million.
  • Public cloud net revenue was $159 million, reflecting a 3.2% year-over-year increase, slightly surpassing the estimate of $157.8 million.
  • First quarter EPS reported at $1.17, compared to 69c year-over-year.
  • Analyst ratings include 5 buys, 14 holds, and 1 sell.

Netapp Inc on Smartkarma

NetApp Inc. has been receiving positive analyst coverage on Smartkarma, an independent investment research network. Baptista Research, a reputable provider on the platform, has published insightful reports on the company’s performance and prospects. In their report titled “NetApp Inc.: Investment In Artificial Intelligence (AI) Yielding Results? – Major Drivers,” Baptista Research highlights NetApp’s strong performance in the fourth quarter of fiscal year 2024. The company exceeded revenue expectations for both the quarter and the full year due to the growth of their expanded all-flash portfolio, setting company records across various financial metrics.

Another report by Baptista Research, titled “NetApp Inc.: Will Their Investment In AI Technology Pay Off? – Key Drivers,” focuses on NetApp’s performance in Q3 of fiscal year ’24. The analysts note that NetApp’s revenue surpassed guidance, driven by the momentum of their expanded all-flash product portfolio. This demonstrates the company’s continuous efforts to leverage AI technology for growth and success in the market. The bullish sentiment expressed by Baptista Research indicates optimism about NetApp’s future prospects in the evolving technology landscape.


A look at Netapp Inc Smart Scores

FactorScoreMagnitude
Value2
Dividend3
Growth4
Resilience5
Momentum5
OVERALL SMART SCORE3.8

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

NetApp Inc, a company that specializes in storage and data management solutions, appears to have a positive long-term outlook based on its Smartkarma Smart Scores. With a Growth score of 4, Resilience score of 5, and Momentum score of 5, the company is positioned well for potential future success. The growth potential and strong momentum indicate a promising trajectory for NetApp Inc in the coming years, supported by its solid resilience in the face of challenges.

Although the Value score is rated at 2 and the Dividend score at 3, the overall outlook for NetApp Inc remains optimistic. The company’s focus on innovation and adaptability seems to be driving its performance and market positioning. With a diverse clientele that includes enterprises, government agencies, and universities globally, NetApp Inc is poised to leverage its strengths and capitalize on opportunities in the storage and data management sector.


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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