Press release
NetApp Reports Fourth Quarter and Fiscal Year 2021 Results
Net revenues for the fourth quarter grew 11% year-over-year to $1.56 billion NetApp™ public cloud services annualized revenue run rate (ARR)1 increased 171%
About this update from Netapp, Inc.
[{"type":"text","content":"\nNet revenues for the fourth quarter grew 11% year-over-year to $1.56 billion\n\n\nNetApp™ public cloud services annualized revenue run rate (ARR)1 increased 171% year-over-year to $301 million\n\n\nAll-flash array annualized net revenue run rate2 increased 11% year-over-year to $2.9 billion\n\n\nBillings3 increased 12% year-over-year to $1.74 billion in the fourth quarter\n\n\n$559 million in cash provided by operations in the fourth quarter; $521 million in free cash flow3, an all-time high for the Company\n\n\n SUNNYVALE, Calif.--(BUSINESS WIRE)--\nNetApp (NASDAQ: NTAP) today reported financial results for the fourth quarter and fiscal year 2021, which ended on April 30, 2021.\n\n“We delivered fourth quarter results above expectations, capping off a solid year of growth. Our momentum underscores our value to customers in a hybrid, multi-cloud world. We are gaining share in key storage markets and our public cloud services are at a scale where they are positively impacting total company billings and revenue growth,” said George Kurian, chief executive officer. “Our focused execution last year has set us up well for FY22. I am excited about the year ahead and confident in our ability to grow revenue while delivering operating leverage as we support our customers on their cloud and digital transformation journeys.”\n\nFourth quarter of fiscal year 2021 financial results\n\n\nNet revenues: $1.56 billion, compared to $1.40 billion in the fourth quarter of fiscal year 2020\n\n\nNet income: GAAP net income of $334 million, compared to $196 million in the fourth quarter of fiscal year 2020; non-GAAP net income4 of $268 million, compared to $265 million in the fourth quarter of fiscal year 2020\n\n\nEarnings per share: GAAP net income per share5 of $1.46, compared to $0.88 in the fourth quarter of fiscal year 2020; non-GAAP net income per share of $1.17, compared to $1.19 in the fourth quarter of fiscal year 2020\n\n\nCash, cash equivalents and investments: $4.60 billion at the end of the fourth quarter of fiscal year 2021\n\n\nCash provided by operations: $559 million, compared to $383 million in the fourth quarter of fiscal year 2020 \n\n\nShare repurchase and dividends: Returned $181 million to shareholders through share repurchases and cash dividends\n\n\nFiscal year 2021 financial results\n\n\nNet revenues: $5.74 billion, compar...