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NTAP raised fiscal 2027 guidance, citing strong broad-based growth focused on AI and cloud. The company pointed to AI adoption driving upgrades and new use cases, with improving margins and public sector demand.
NetApp reported fiscal Q1 adjusted earnings of $2.58 a share on revenue of $2.03 billion, both above estimates, and raised full-year guidance. Shares fell premarket after the company said second-quarter gross margin will drop to 67% to 68%.
NetApp reported Q1 revenue of $2.03 billion, up 30% year over year, and raised fiscal 2027 guidance to $7.975 billion-$8.225 billion for revenue and $9.73-$10.03 for EPS.