Cloud service provider NetApp, Inc. (NASDAQ: NTAP) on Thursday announced financial results for the first quarter of 2024.
- First-quarter revenues decreased to $1.43 billion from $1.59 billion in the corresponding period of fiscal year 2023
- Hybrid Cloud segment revenue was $1.28 billion in Q1, compared to $1.46 billion in the prior-year quarter
- Public Cloud segment revenue came in at $154 million, up from $132 million reported in the first quarter of 2023
- At $1.30 billion, total billings were down 17% year-over-year in the July quarter
- NetApp Public Cloud’s annualized revenue run rate was $619 million, compared to $584 million last year
- Q1 net income decreased to $149 million from $214 million a year earlier; adjusted net income was $249 million, compared to $269 million in Q1 2023
- Earnings per share dropped to $0.69 from $0.96; adjusted earnings per share was $1.15, vs. $1.20/share last year
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Trxade Health Inc. (NASDAQ: MEDS) Q1 2024 Research Summary
Trxade Health, Inc. (NASDAQ: MEDS) is a drug procurement and delivery platform that digitalizes the retail pharmacy experience. The company has a growing network of suppliers and partnerships with independent
Earnings Preview: Walmart (WMT) expected to report sales and profit gains in Q1
Over the years, Walmart Inc. (NYSE: WMT) has constantly diversified while maintaining its dominance in the retail world. The company is preparing to report financial results for the first three
After a positive year, what’s in the cards for Electronic Arts (EA) in FY25
Electronic Arts (NASDAQ: EA) ended fiscal 2024 on a mixed note, reporting lower revenues and improved bottom-line performance for the fourth quarter. The stock declined following the announcement as earnings
