NetApp Reports Strong Q3 Results with Record All-Flash Revenue and Positive Outlook

summarizeSummary

NetApp reported strong Q3 FY26 financial results, including record all-flash array revenue and increased EPS, and provided an optimistic financial outlook for the upcoming quarter and full fiscal year.

check_boxKey Events

• Strong Q3 Financial Performance

  Net revenues increased 4% year-over-year to $1.71 billion, with GAAP EPS up 16% to $1.67 and non-GAAP EPS reaching a record $2.12. Billings grew 10% year-over-year, marking the ninth consecutive quarter of growth.

• Record All-Flash Array Revenue

  All-flash array revenue reached a record $1.0 billion, an 11% increase year-over-year, contributing to an annualized net revenue run rate of $4.2 billion.

• Robust Public Cloud Growth

  Public Cloud revenue was $174 million, with first-party and marketplace storage services growing 27% year-over-year.

• Positive Financial Outlook

  The company provided optimistic guidance for Q4 FY26, projecting net revenues between $1.795 billion and $1.945 billion, and non-GAAP EPS between $2.21 and $2.31. Full fiscal year 2026 guidance also reflects continued growth.

auto_awesomeAnalysis

NetApp delivered a robust third quarter, exceeding expectations with significant year-over-year growth in net revenues, earnings per share, and billings. The company achieved record all-flash array revenue and strong growth in public cloud services, underscoring its leadership in intelligent data infrastructure. The positive financial outlook for both the fourth quarter and the full fiscal year 2026, coupled with continued shareholder returns, indicates strong operational discipline and confidence in future growth, particularly in the AI era.