Cloud service provider NetApp, Inc. (NASDAQ: NTAP) on Wednesday announced financial results for the fourth quarter of 2023.
- Fourth-quarter net revenue was $1.58 billion, compared to $1.68 billion in the same period of 2022
- Hybrid Cloud segment revenue decreased to $1.43 billion in Q4 from $1.56 billion last year
- Public Cloud segment revenue came in at $151 million in the three-month period, vs. $120 million in Q4 2022
- In the April quarter, billings dropped 17% year-over-year to $1.67 billion
- Net income, on a reported basis, was $245 million in the fourth quarter, compared to $259 million last year
- On a per-share basis, unadjusted earnings edged down to $1.13 from $1.14
- Adjusted earnings increased to $1.54 per share in Q4 from $1.42 in the fourth quarter of fiscal year 2022