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NetApp Q1 FY2027 revenue rises to $2.03 billion

NetApp reported first-quarter fiscal 2027 revenue of $2.03 billion and diluted EPS of $1.88 in its 10-Q summary.

SquawkNews Newsroom 2 updates Updated Sep 02, 2026, 08:43 PM UTC

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08:36:36 PM UTC

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By Mariapaula GonzalezNetApp, a data storage company, reported stronger-than-expected earnings and raised its fiscal year guidance on Wednesday, but its stock dropped in after-hours trading.Revenue grew 30% from the prior year to $2.03 billion, topping Wall Street's estimates of $1.84 billion, acco…

08:43:55 PM UTC

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NetApp Inc. (NASDAQ: NTAP ) posted its fiscal 2027 first-quarter results after Wednesday’s closing bell. Here’s a look at the details from the quarter. NTAP stock is moving. Watch the price action here. NetApp Q1 Details NetApp reported quarterly earnings of $2.58 per share, which beat the consensus estimate of $2.12 by 21.7%, per Pro data. Quarterly revenue of $2.03 billion beat the Street estimate of $1.84 billion and was up from $1.56 billion in the same period last year. "NetApp delivered a record-setting start to the year, exceeding guidance on every metric and achieving our strongest first quarter ever," said CEO George Kurian. "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,” Kurian added. Read Also: Snowflake Stock Could Retest All-Time Highs — If It Clears This Level First Looking Ahead NetApp raised its fiscal 2027 adjusted EPS guidance to between $9.73 and $10.03, versus the $9.01 analyst estimate, and raised its revenue outlook to between $7.98 billion and $8.23 billion, versus the $7.54 billion estimate. NTAP Stock Price: According to data Pro, NetApp stock was down 9.82% to $163.01 in Wednesday’s extended trading. Photo: Shutterstock

NetApp Inc. (NASDAQ: NTAP ) posted its fiscal 2027 first-quarter results after Wednesday’s closing bell.

Here’s a look at the details from the quarter.

NTAP stock is moving.

Watch the price action here.

NetApp Q1 Details NetApp reported quarterly earnings of $2.58 per share, which beat the consensus estimate of $2.12 by 21.7%, per Pro data.

Quarterly revenue of $2.03 billion beat the Street estimate of $1.84 billion and was up from $1.56 billion in the same period last year. "NetApp delivered a record-setting start to the year, exceeding guidance on every metric and achieving our strongest first quarter ever," said CEO George Kurian. "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,” Kurian added.

Read Also: Snowflake Stock Could Retest All-Time Highs — If It Clears This Level First Looking Ahead NetApp raised its fiscal 2027 adjusted EPS guidance to between $9.73 and $10.03, versus the $9.01 analyst estimate, and raised its revenue outlook to between $7.98 billion and $8.23 billion, versus the $7.54 billion estimate.

NTAP Stock Price: According to data Pro, NetApp stock was down 9.82% to $163.01 in Wednesday’s extended trading.

Photo: Shutterstock