Overview

* NetApp ( NTAP ) fiscal Q1 revenue of $1.56 bln beats analyst expectations, per LSEG data

* Adjusted EPS of $1.55 beats consensus

* All-flash array revenue grows 6% yr/yr; public cloud services up 33%

Outlook

* NetApp ( NTAP ) sees Q2 revenue between $1.615 bln and $1.765 bln

* Company expects FY 2026 revenue between $6.625 bln and $6.875 bln

* NetApp ( NTAP ) projects Q2 EPS of $1.35-$1.45 GAAP, $1.84-$1.94 non-GAAP

* Company anticipates FY 2026 EPS of $5.72-$6.02 GAAP, $7.60-$7.90 non-GAAP

Result Drivers

* ALL-FLASH ARRAY - Revenue from all-flash arrays grew 6% year-over-year, reaching $893 mln, contributing significantly to overall revenue

* PUBLIC CLOUD SERVICES - First-party and marketplace public cloud storage services revenue increased by 33% year-over-year, supporting revenue growth

* BILLINGS GROWTH - Billings rose 4% year-over-year to $1.51 bln, marking the seventh consecutive quarter of year-over-year growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q1 Beat $1.56 $1.55

Revenue bln bln (14

Analysts

)

Q1 Beat $1.55 $1.54

Adjusted (16

EPS Analysts

)

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 14 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the computer hardware peer group is "buy."

* Wall Street's median 12-month price target for NetApp Inc ( NTAP ) is $116.00, about 5.7% above its August 26 closing price of $109.41

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)