Press release
NetApp Reports First Quarter of Fiscal Year 2021 Results
Net Revenues of $1.30 Billion; Up 5% Year-over-Year NetApp™ public cloud services annualized recurring revenue of $178 million, an increase of 192%
About this update from Netapp, Inc.
[{"type":"text","content":"\nNet Revenues of $1.30 Billion; Up 5% Year-over-Year\n\n\n\nNetApp™ public cloud services annualized recurring revenue of $178 million, an increase of 192% year-over-year\n\n\nAll-flash array annualized net revenue run rate of $2.3 billion, an increase of 34% year-over-year\n\n\nBillings1 of $1.15 billion, increased 6% year-over-year\n\n\nCompleted Spot and CloudJumper acquisitions, further extending our customer value proposition in the cloud\n\n\n$107 million returned to shareholders in cash dividend\n\n\n SUNNYVALE, Calif.--(BUSINESS WIRE)--\nNetApp (NASDAQ: NTAP) today reported financial results for the first quarter of fiscal year 2021, which ended on July 31, 2020.\n\n\n“We executed well in the first quarter. Revenue, operating margin and EPS all exceeded our guidance, despite a challenging environment. Enterprises are increasingly prioritizing transformational and hybrid cloud projects, which drove our momentum as customers turn to NetApp to help them achieve these goals,” said George Kurian, chief executive officer. “We are building on a strong foundation of industry-leading data-centric software innovation, trusted customer relationships and an open-ecosystem approach that is strengthened by partnerships with the leading public cloud companies who endorse our Data Fabric Strategy. NetApp is uniquely positioned to help our customers unlock the best of cloud.”\n\n\nFirst Quarter of Fiscal Year 2021 Financial Results\n\n\n\nNet Revenues: $1.30 billion, compared to $1.24 billion in the first quarter of fiscal year 2020\n\n\nNet Income: GAAP net income of $77 million, compared to GAAP net income of $103 million in the first quarter of fiscal year 2020; non-GAAP net income2 of $163 million, compared to non-GAAP net income of $157 million in the first quarter of fiscal year 2020\n\n\nEarnings per Share: GAAP net income per share3 of $0.35 compared to GAAP net income per share of $0.42 in the first quarter of fiscal year 2020; non-GAAP net income per share of $0.73, compared to non-GAAP net income per share of $0.65 in the first quarter of fiscal year 2020\n\n\nCash, Cash Equivalents and Investments: $3.77 billion at the end of the first quarter of fiscal year 2021\n\n\nCash Provided by Operations: $240 million, compared to $310 million in the first quarter of fiscal year 2020 \n\n\nDividend: Returned $107 million to sharehold...