Press release
NetApp Reports Second Quarter of Fiscal Year 2022 Results
Net revenues for the second quarter grew 11% year-over-year to $1.57 billion; Expanded cloud partnerships and delivered substantial innovation across entire
About this update from Netapp, Inc.
[{"type":"text","content":"\nNet revenues for the second quarter grew 11% year-over-year to $1.57 billion;\nExpanded cloud partnerships and delivered substantial innovation across entire portfolio\n\n\nNetApp™ Public Cloud annualized revenue run rate (ARR)1 increased 80% year-over-year to $388 million\n\n\nAll-flash array annualized net revenue run rate2 increased 22% year-over-year to $3.1 billion\n\n\nProduct revenue grew 9% year-over-year to $814 million\n\n\nBillings3 increased 7% year-over-year to $1.55 billion\n\n\n$298 million in cash provided by operations; $252 million in free cash flow3\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nNetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2022, which ended on October 29, 2021.\n\n“We delivered another strong quarter, with results all at the high end or above our guidance. Our performance reflects a strong demand environment, a clear vision, and exceptional execution by the NetApp team and gives the confidence to raise our full year guidance for revenue, EPS and Public Cloud ARR,” said George Kurian, chief executive officer. “We are gaining share in the key markets of all-flash and object storage, while rapidly scaling our public cloud business. Our industry-leading innovation and unique and deep cloud partnerships position us well to capitalize on significant opportunity ahead.”\n\nSecond quarter of fiscal year 2022 financial results\n\n\nNet revenues: $1.57 billion, compared to $1.42 billion in the second quarter of fiscal year 2021\n\n\nHybrid Cloud segment revenue: $1.48 billion, compared to $1.37 billion in the second quarter of fiscal year 2021\n\n\nPublic Cloud segment revenue: $87 million, compared to $47 million in the second quarter of fiscal year 2021\n\n\n\n\nNet income: GAAP net income of $224 million, compared to $137 million in the second quarter of fiscal year 2021; non-GAAP net income4 of $292 million, compared to $236 million in the second quarter of fiscal year 2021\n\n\nEarnings per share: GAAP net income per share5 of $0.98, compared to $0.61 in the second quarter of fiscal year 2021; non-GAAP net income per share of $1.28, compared to $1.05 in the second quarter of fiscal year 2021\n\n\nCash, cash equivalents and investments: $4.55 billion at the end of the second quarter of fiscal year 2022\n\n\nCash provided by operations: $298 million, comp...