Cloud service provider NetApp, Inc. (NASDAQ: NTAP) on Thursday announced financial results for the first quarter of 2024.
- First-quarter revenues decreased to $1.43 billion from $1.59 billion in the corresponding period of fiscal year 2023
- Hybrid Cloud segment revenue was $1.28 billion in Q1, compared to $1.46 billion in the prior-year quarter
- Public Cloud segment revenue came in at $154 million, up from $132 million reported in the first quarter of 2023
- At $1.30 billion, total billings were down 17% year-over-year in the July quarter
- NetApp Public Cloud’s annualized revenue run rate was $619 million, compared to $584 million last year
- Q1 net income decreased to $149 million from $214 million a year earlier; adjusted net income was $249 million, compared to $269 million in Q1 2023
- Earnings per share dropped to $0.69 from $0.96; adjusted earnings per share was $1.15, vs. $1.20/share last year
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
LULU Earnings: Lululemon reports higher sales and profit for Q1 2024
Lululemon Athletica (NASDAQ: LULU) reported an increase in revenues and profit for the first quarter of 2024. The athletic wear company also issued guidance for the second quarter and FY24.
NIO Earnings: Nio reports net loss for Q1 2024; revenues down 7%
NIO Inc. (NYSE: NIO) reported a net loss for the first quarter of 2024 when the electric car maker's revenues dropped 7%. The China-based company also issued guidance for the
JM Smucker (SJM) Q4 2024 Earnings: Key financials and quarterly highlights
The J.M. Smucker Co. (NYSE: SJM) reported its fourth quarter 2024 earnings results today. Net sales decreased 1% year-over-year to $2.2 billion. Net income was $245.1 million, or $2.30 per
