May 30 (Reuters) - NetApp ( NTAP ) topped fourth-quarter

revenue estimates on Thursday on strong demand for its

cloud-based data management services, while the company also

approved a new share buyback plan worth an additional $1

billion.

Enterprise spending on cloud has remained robust as

businesses upgrade their technology infrastructure, while

advances in artificial intelligence have boosted demand for

cloud computing.

Companies are increasingly moving from traditional to

cloud-based solutions, looking to integrate more cost-effective

processes.

The company, which has clients such as Amazon.com's ( AMZN )

Amazon Web Services, Google Cloud and Microsoft's ( MSFT )

Azure, helps businesses improve efficiency of their data storage

infrastructure.

In April, NetApp ( NTAP ) announced an expansion of its tieup with

Google Cloud called the Flex service level, which supports

storage volumes of nearly any size, making it easier for firms

to leverage data for generative AI and other hybrid cloud

workloads.

The company expects 2025 revenue to be between $6.45 billion

and $6.65 billion. Its midpoint was $6.55 billion, above

estimates of $6.53 billion, according to LSEG data.

It expects adjusted profit per share between $6.80 and $7,

above expectations of $6.74.

For the first quarter, NetApp ( NTAP ) expects to report net revenue

between $1.46 billion and $1.61 billion, with the midpoint above

estimates of $1.52 billion.

It expects adjusted profit per share between $1.40 to $1.50.

Net revenue for the fourth quarter came in at $1.67 billion,

slightly above analysts' estimate of $1.66 billion.

NetApp's ( NTAP ) Hybrid Cloud segment, which accounts for almost all

of its revenue, recorded sales of $1.52 billion in the quarter.

On an adjusted basis, it earned $1.80 per share compared

with $1.54 a year ago.

(Reporting by Juby Babu in Mexico City; Editing by Mohammed

Safi Shamsi and Arun Koyyur)