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NetApp reports Q1 beat, provides guidance

AuthorDavit Kirakosyan
Published 08/24/2023, 04:50 AM
© Reuters.
NTAP
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NetApp (NASDAQ:NTAP) reported its Q1 results, with EPS of $1.15 coming in better than the consensus estimate of $1.07. Revenue fell 10% year-over-year to $1.43 billion, above the consensus estimate of $1.41B. Billings were $1.30B, representing a year-over-year decrease of 17%.

“We delivered a solid start to fiscal year 2024 in what continues to be a challenging macroeconomic environment. We are managing the elements within our control, driving better performance in our storage business, and building a more focused approach to cloud,” said CEO George Kurian.

For Q2/24, the company expects EPS in the range of $1.35-$1.45, compared to the consensus of $1.38, and revenue in the range of $1.455-$1.605B, compared to the consensus estimate of $1.51B.

For the full year, the company anticipates EPS to be in the range of $5.65-$5.85, compared to the consensus of $5.70.

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