NetApp Posts Record Q1: Revenue Up 30%, Raises Full-Year Guidance
NTAP sits 79% above its 52-week low of $93.69.
Summary
NetApp reported record Q1 FY27 results with 30% revenue growth and raised full-year guidance, driven by surging all-flash and public cloud demand.
Key Events · Earnings and Guidance · NTAP
-
Record Q1 Revenue and EPS
Net revenues of $2.025B, up 30% YoY; GAAP EPS $1.88 vs $1.15; non-GAAP EPS $2.58 vs $1.55.
-
Full-Year Guidance Raised
FY27 revenue guidance raised to $7.975B–$8.225B and non-GAAP EPS to $9.73–$10.03, up significantly from prior outlook.
-
All-Flash and Cloud Momentum
All-flash array revenue hit a record $1.3B (+47% YoY); Public Cloud revenue reached $206M (+28% YoY).
-
Free Cash Flow Declines
Free cash flow fell 35% to $401M from $620M, reflecting higher inventory build and lower operating cash flow.
Analysis · NTAP · Technology
NetApp delivered its strongest first quarter ever, with revenue jumping 30% year-over-year to $2.03 billion and non-GAAP EPS of $2.58 — well above the prior-year $1.55. The company also significantly raised its full-year FY27 outlook, now targeting $7.975–$8.225 billion in revenue and non-GAAP EPS of $9.73–$10.03, up from prior expectations. All-flash array revenue surged 47% to $1.3 billion, confirming strong AI-driven storage demand. The only soft spot: free cash flow fell 35% to $401 million, driven by higher inventory build and lower operating cash flow.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 35.8% of the 1864 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NTAP was trading at $167.54 on NASDAQ in the Technology sector, with a market capitalization of approximately $35.5B. The 52-week trading range was $93.69 to $209.06. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.