The earnings call highlighted strong financial performance with significant growth in key areas like all-flash storage and cloud services. Despite some challenges, such as lower free cash flow due to strategic inventory purchases and a sequential decrease in RPO, the company's overall performance and strategic initiatives are positioned well for continued success.

Company Guidance

In the NetApp Q2 2025 earnings call, the company provided guidance indicating a strong financial outlook, building on a successful quarter where they exceeded expectations. NetApp reported a 6% year-over-year revenue growth, reaching $1.66 billion, with product revenue up 9% and public cloud revenue increasing by 9%. The company highlighted a robust 19% growth in all-flash storage, contributing to a record Q2 operating margin of 29% and an EPS of $1.87, both surpassing their initial forecasts. For fiscal year 2025, NetApp raised its revenue guidance to between $6.54 billion and $6.74 billion, expecting a consolidated gross margin of 71% to 72% and operating margin between 28% and 28.5%. The EPS is anticipated to range from $7.20 to $7.40, suggesting a 13% growth at the midpoint. Additionally, NetApp projects public cloud revenues to return to double-digit growth by Q3, further driving momentum into the fiscal year's second half.

All-Flash Storage Growth

All-flash storage revenue increased by 19% year-over-year, reaching an all-time high of $3.8 billion, marking the fourth consecutive quarter of high teens to low 20s percent annual growth.

Strong Cloud Storage Services Performance

Public Cloud segment revenue grew 9% year-over-year to $168 million, with first-party and marketplace cloud storage services increasing roughly 43% year-over-year.

Record Operating Margin and EPS

Achieved record Q2 operating margin and EPS, with operating margin at 29% and EPS of $1.87, above the high end of guidance.

Keystone Growth

Keystone, the Storage-as-a-Service offering, delivered another strong quarter with revenue growing approximately 55% from Q2 a year ago.

AI and Data Lake Modernization Wins

Secured over 100 AI and data lake modernization wins, indicating strong performance in AI-related initiatives.

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NetApp (NTAP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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NTAP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 15, 2018	2019 (Q1)	- / 1.04	0.62	67.74% (+0.42)	―	―
Nov 14, 2018	2019 (Q2)	- / 1.06	0.81	30.86% (+0.25)	―	―
Feb 13, 2019	2019 (Q3)	- / 1.20	0.99	21.21% (+0.21)	―	―
May 22, 2019	2019 (Q4)	- / 1.22	1.05	16.19% (+0.17)	―	―
Aug 14, 2019	2020 (Q1)	- / 0.65	1.04	-37.50% (-0.39)	―	―
Nov 13, 2019	2020 (Q2)	- / 1.09	1.06	2.83% (+0.03)	―	―
Feb 12, 2020	2020 (Q3)	- / 1.16	1.2	-3.33% (-0.04)	―	―
May 27, 2020	2020 (Q4)	- / 1.19	1.22	-2.46% (-0.03)	―	―
Aug 26, 2020	2021 (Q1)	- / 0.73	0.65	12.31% (+0.08)	―	―
Dec 01, 2020	2021 (Q2)	- / 1.05	1.09	-3.67% (-0.04)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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NTAP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 21, 2024	$126.11	$121.79	-3.43%
Aug 28, 2024	$130.76	$118.16	-9.64%
May 30, 2024	$115.02	$118.90	+3.37%
Feb 29, 2024	$87.58	$103.49	+18.17%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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