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NetApp (NTAP)
NASDAQ:NTAP
Earnings Data
Report Date
May 28, 2026After Close (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
2.26Last Year’s EPS
1.93Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operational achievements: revenue and EPS growth, record operating income, robust all-flash and Keystone momentum, growing deferred revenue/RPO and accelerating AI customer adoption (300 AI customers, AFX early wins and AIDE coming in Q4). Those positives are tempered by margin pressure at the product level driven by unfavorable mix and open-market purchases, and by an ongoing risk from inflationary memory prices and supply dynamics. Management is addressing these challenges via price increases, supplier engagement, and portfolio flexibility (hybrid, Keystone, cloud). On balance the call emphasized solid execution and growth opportunities while acknowledging manageable near-term margin and supply risks.Company Guidance
Revenue Growth and EPS Outperformance
Q3 revenue of $1.71B, up 4% year-over-year (ex-Spot: +6%). Non-GAAP EPS $2.12, up 11% year-over-year, and results exceeded the midpoint of revenue guidance and the high end of EPS guidance.
Record Profitability and Strong Margins
Operating income $533M, up 8% year-over-year; operating margin 31.1% (up 1.1 ppt YoY). Non-GAAP gross margin 71.2%, up ~50 basis points year-over-year. Company reported record quarterly operating income and EPS.
All-Flash Array Momentum
Record all-flash array revenue quarter of $1.0B, up 11% year-over-year, implying an annualized run rate of $4.2B; strong customer engagement for unified and block-optimized AFA portfolio.
Keystone (Storage-as-a-Service) Strength
Keystone revenue grew ~65% year-over-year. Unbilled RPO, an indicator of future Keystone revenue, was $482M, up 38% year-over-year, signaling meaningful forward demand for consumption offerings.
Public Cloud and Marketplace Growth (Ex-Spot)
Public Cloud revenue $174M (flat YoY), but excluding the divested Spot business Public Cloud revenue was up 17% YoY; first-party and marketplace services grew 27% YoY. About half of revenue from these new cloud customers came from new-to-NetApp customers.
AI Product Traction and Customer Wins
Approximately 300 customers selected NetApp for AI data preparation and storage in the quarter (up from ~200 prior quarter). AFX (disaggregated storage for AI) shipped in its first quarter with notable wins; AI Data Engine (AIDE) to be generally available in Q4—early momentum in AI use cases across industries.
Growing Deferred Revenue and RPO
Deferred revenue $4.63B, up 12% YoY (9% constant currency). Remaining Performance Obligations $5.11B, up 14% YoY—provides multi-quarter revenue visibility.
Healthy Cash Position and Capital Return
Cash and short-term investments $3.0B; gross debt $2.5B; net cash $522M. Returned $303M to shareholders in Q3 ($200M share repurchases, $103M dividends at $0.52/share). Diluted share count declined ~4% YoY.
NTAP Earnings History
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
NTAP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $99.14 | $99.03 | -0.11% |
Oct 24, 2025 | $116.07 | $116.62 | +0.47% |
Aug 27, 2025 | $111.10 | $116.14 | +4.54% |
May 30, 2025 | $97.78 | $97.39 | -0.39% |
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.
FAQ
When does NetApp (NTAP) report earnings?
NetApp (NTAP) is schdueled to report earning on May 28, 2026, After Close (Confirmed).
What is NetApp (NTAP) earnings time?
NetApp (NTAP) earnings time is at May 28, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NTAP EPS forecast?
NTAP EPS forecast for the fiscal quarter 2026 (Q4) is 2.26.
