Press release
NetApp Reports Fourth Quarter and Fiscal Year 2024 Results
Net revenues of $1.67 billion for the fourth quarter; Net revenues of $6.27 billion for fiscal year 2024 Record all-flash array annualized revenue run rate1
About this update from Netapp, Inc.
[{"type":"text","content":"\nNet revenues of $1.67 billion for the fourth quarter;\nNet revenues of $6.27 billion for fiscal year 2024 \n\n\n\nRecord all-flash array annualized revenue run rate1 of $3.6 billion, an increase of 17% year-over-year\n\n\n\nRecord fiscal year GAAP consolidated gross margins of 71%; record non-GAAP consolidated gross margins2 of 72%\n\n\n\nFiscal year GAAP operating margins of 19%; record non-GAAP operating margins2 of 27%\n\n\n\nFiscal year GAAP net income per share3 of $4.63; record non-GAAP net income per share2 of $6.46\n\n\n\nNetApp announced an increase in its quarterly dividend to $0.52 cents per share and a new share repurchase authorization of an additional $1 billion\n\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nNetApp (NASDAQ: NTAP), the intelligent data infrastructure company, today reported financial results for the fourth quarter and fiscal year 2024, which ended on April 26, 2024.\n\n\n“We concluded fiscal year 2024 on a high note, delivering company records for annual gross margin, operating margin, EPS, operating cash flow, and free cash flow and building positive momentum. Our modern approach to unified data storage, spanning data types, price points, and hybrid multicloud environments, is clearly resonating in the market,” said George Kurian, chief executive officer. “In fiscal year 2025, we will remain laser focused on our top priorities of driving growth in all-flash and cloud storage services while maintaining our operational discipline.”\n\n\nFourth quarter of fiscal year 2024 financial results\n\n\n\nNet revenues: $1.67 billion, compared to $1.58 billion in the fourth quarter of fiscal year 2023; a year-over-year increase of 6%.\n\n\nHybrid Cloud segment revenue: $1.52 billion, compared to $1.43 billion in the fourth quarter of fiscal year 2023.\n\n\n\nPublic Cloud segment revenue: $152 million, compared to $151 million in the fourth quarter of fiscal year 2023.\n\n\n\n\n\n\nBillings2: $1.81 billion, compared to $1.67 billion in the fourth quarter of fiscal year 2023; a year-over-year increase of 8%.\n\n\n\nNetApp Public Cloud annualized revenue run rate (ARR)4: $630 million, compared to $620 million in the fourth quarter of fiscal year 2023; a year-over-year increase of 2%.\n\n\n\nAll-flash array ARR: $3.6 billion, compared to $3.1 billion in the fourth quarter of fiscal year 2023; a year-over-year incre...