NetApp, Inc. (NASDAQ: NTAP), a provider of intelligent data infrastructure, has reported financial results for the first quarter of fiscal 2026
- First-quarter revenue edged up 1% to $1.56 billion from $1.54 billion in the comparable period of FY25
- All-flash array revenue grew 6% year-over-year to $893 million in Q1, for an annualized net revenue run rate of $3.6 billion
- First-party and marketplace Public Cloud storage services revenue grew 33% year-over-year in the July quarter
- Net income declined to $233 million or $1.15 per share in Q1 from $248 million or $1.17 per share last year
- Total billings were $1.51 billion in the first quarter, up 4% year-over-year — the seventh consecutive quarter of year-over-year growth
- Cash provided by operations rose to a record high of $673 million in Q1; free cash flow was $620 million
- During the first quarter, the company returned $404 million to stockholders through share repurchases and cash dividends
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