NetApp reports first quarter of Fiscal Year 2027 results

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    "url": "https://www.zawya.com/en/press-release/companies-news/netapp-reports-first-quarter-of-fiscal-year-2027-results-522594",
    "title": "NetApp reports first quarter of Fiscal Year 2027 results - zawya.com",
    "excerpt": "News Summary Dubai, United Arab Emirates: NetApp (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today reported financial results for the first quarter of fiscal year 2027, which ended on July 31, 2026. “NetApp delivered a record-setting start to the year, exceeding guidance on every metric and achieving our strongest first quarter ever,” said George Kurian, Chief Executive Officer. “Our momentum reflects not only the trust of existing customers but also our success in winning new ones, as organizations choose the NetApp Platform to power their AI and hybrid multi-cloud initiatives. Through continued innovation and strategic investments, we are enabling customers to address their most critical needs and creating lasting value for all stakeholders.” First Quarter of Fiscal Year 2027 Financial Results ($ in millions, except earnings per share) GAAP Results Q1 FY27 Q1 FY26 % Change Net revenues $2,025 $1,559 30% Hybrid Cloud segment revenue $1,819 $1,398 30% Public Cloud segment revenue $ 206 $ 161 28% Gross profit $1,419 $1,098 29% Net income $ 375 $ 233 61% Earnings per share $ 1.88 $ 1.15 63% Net cash provided by operating activities $ 503 $ 673 (25)% Non-GAAP Results Q1 FY27 Q1 FY26 % Change Billings $2,057 $1,511 36% Net revenues $2,025 $1,559 30% Hybrid Cloud segment revenue $1,819 $1,398 30% Public Cloud segment revenue $ 206 $ 161 28% Gross profit $1,429...",
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