Press release
NetApp Reports Fourth Quarter and Fiscal Year 2023 Results
Net revenues of $1.58 billion for the fourth quarter; Net revenues of $6.36 billion for fiscal year 2023 Introduced significant innovation, including
About this update from Netapp, Inc.
[{"type":"text","content":"\nNet revenues of $1.58 billion for the fourth quarter;\nNet revenues of $6.36 billion for fiscal year 2023\n\n\n\nIntroduced significant innovation, including C-series, a new family of capacity all-flash storage systems, and NetApp™ Advance, a new portfolio of storage programs and guarantees to help customers cost-effectively future proof their on-premises environments\n\n\n\nRecognized with three Outperformer placements in GigaOm’s annual Radar reports for storage for the second consecutive year\n\n\n\nFiscal year 2023 GAAP net income per share of $5.79 increased 42% year over year; fiscal year 2023 non-GAAP net income per share of $5.59 increased 6% year over year\n\n\n\n$1.28 billion returned to shareholders in fiscal year 2023; representing 116% of cash from operations and 148% of free cash flow2\n\n\n\nNetApp announced a new share repurchase authorization of an additional $1 billion\n\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nNetApp (NASDAQ: NTAP) today reported financial results for the fourth quarter and fiscal year 2023, which ended on April 28, 2023.\n\n\n“Our sharpened focus and disciplined execution yielded solid Q4 results in a dynamic environment. Digital transformation projects involving business analytics, AI, data security, and application modernization, both on premises and in the cloud, remain top IT priorities,” said George Kurian, chief executive officer. “We deliver significant value to customers on their transformation journeys with a modern approach to hybrid, multicloud infrastructure and data management. We are entering FY24 with substantial new innovations and a more focused operating model to better address the areas of priority spending. I am confident in our ability to drive long-term growth, extend our leadership position, and deliver increasing value for customers, partners, and shareholders.”\n\n\nFourth quarter of fiscal year 2023 financial results\n\n\n\nNet revenues: $1.58 billion, compared to $1.68 billion in the fourth quarter of fiscal year 2022; a year-over-year decrease of 6%, or 4% in constant currency1.\n\n\nHybrid Cloud segment revenue: $1.43 billion, compared to $1.56 billion in the fourth quarter of fiscal year 2022\n\n\n\nPublic Cloud segment revenue: $151 million, compared to $120 million in the fourth quarter of fiscal year 2022\n\n\n\n\n\n\nBillings2: $1.67 billion, compared to ...