netapp revenue in billion

* Our revenue recognition policy under GAAP defines a configured storage system, inclusive of the operating system software essential to its functionality, as a single performance obligation. “Our focused execution last year has set us up well for FY22. NetApp believes that the presentation of free cash flow, which it defines as the net cash provided by operating activities less cash used to acquire property and equipment, to be a liquidity measure that provides useful information to management and investors because it reflects cash that can be used to, among other things, invest in its business, make strategic acquisitions, repurchase common stock, and pay dividends on its common stock. The company said it expects revenue in the range of $1.49 billion to $1.59 billion for the fiscal second quarter. NetApp’s management uses these non-GAAP measures in making operating decisions because it believes the measurements provide meaningful supplemental information regarding NetApp’s ongoing operational performance. Net revenues for the fourth quarter grew 11% year-over-year to $1.56 billion. NetApp AI solutions remove bottlenecks at the edge, core, and the cloud to enable more efficient data collection. Our momentum underscores our value to customers in a hybrid, multi-cloud world. These non-GAAP financial measures are used to: (1) measure company performance against historical results, (2) facilitate comparisons to our competitors’ operating results and (3) allow greater transparency with respect to information used by management in financial and operational decision making. NetApp records amortization of intangible assets that were acquired in connection with its business combinations. Found inside – Page 26Founded: MFS -1987 WorldCom - 1983 1996 revenue: MFS -$583 million Plus, ... NetApp, based in Mountain View, Calif, makes dedicated file servers, ... In 1994, NetApp received venture capital funding from Sequoia Capital. NetApp operates in the cloud data services and data management segment, and thus the pandemic has actually helped NetApp’s business. Found inside – Page 134With annual revenues of 32. 35 billion, 103 is the leading global provider of IT media, research, con- : | | J\ J fetences and expositions. It had its initial public offering in 1995. San Jose, Calif.—August 25, 2021—NetApp (NASDAQ: NTAP) today reported financial results for the first quarter of fiscal year 2022, which ended on July 30, 2021. To supplement NetApp’s condensed consolidated financial statement information presented in accordance with generally accepted accounting principles in the United States (GAAP), NetApp provides investors with certain non-GAAP measures, including, but not limited to, historical non-GAAP operating results, non-GAAP net income, non-GAAP effective tax rate, free cash flow, billings, and historical and projected non-GAAP earnings per diluted share. These are non-cash charges to write down assets when there is an indication that the asset has become impaired. NetApp sees FY2022 EPS between $4.85-$5.05, versus the … Management believes such nonrecurring costs do not reflect the results of its underlying, on-going business and, therefore, are less useful for future planning and forecasting. An audio replay will be available on the website after 4:00 p.m. Pacific Time today. These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with GAAP, and may be different from non-GAAP measures used by other companies. Speed application development, improve software quality, reduce business risk, and shrink costs. Found inside – Page 301040 www.netapp.com Was it fear that drove ... Armstrong said, "We've got a full-court press under way to accelerate revenue growth and fast-forward AT&T's ... Fiscal 2021 Performance. Management believes such nonrecurring costs do not reflect the results of its underlying, on-going business and, therefore, cannot be relied upon for future planning or forecasting. “Cloud and digital transformation initiatives remain top customer priorities and our results underscore the value we bring to customers in a hybrid, multi-cloud, data-driven world. The hardware and software components of our product revenues are derived from an estimated fair value allocation of the transaction price of our contracts with customers, down to the level of the product hardware and software components. In 2021, NetApp generated just over 3 billion U.S. dollars in revenue from sales in the Americas. Actual results may differ materially from these statements for a variety of reasons, including, without limitation, general global political, macroeconomic and market conditions (including the impact of the COVID-19 pandemic thereon), changes in U.S. government spending, revenue seasonality and matters specific to our business, such as the impact of the COVID-19 pandemic on the company’s business operations, financial performance and results of operations, our ability to expand our total available market and grow our portfolio of products, customer demand for and acceptance of our products and services, our ability to successfully execute new business models, our ability to successfully execute on our data fabric strategy to generate profitable growth and stockholder return and our ability to manage our gross profit margins. NetApp had a net margin of 14.49% and a return on equity of 151.60%. First quarter of fiscal year 2019 Q1 show net revenues grew by more than one tenth YoY, boosted by 50% expansion in all-flash arrays income. All-flash array annualized net revenue run rate 2 increased 11% year-over-year to $2.9 billion. “Safe Harbor” statement under U.S. NetApp ™ Public Cloud revenue increased 155% year-over-year. Analysts surveyed by Zacks had expected revenue of $1.51 billion. For fiscal 2021, NetApp reported revenues of $5.74 billion, up 6% from fiscal 2020 tally. Software and recurring support and cloud revenue, Software and recurring support and cloud revenue*, Software and recurring support and cloud revenue as a percentage of net revenues, Cloud revenue is included in software support revenues. Net Cash Provided by Operating Activities. H. Gains/losses on the sale of investments in equity securities. Build Business Relevance and Succeed with NetApp. All of these forward-looking statements involve risk and uncertainty. NetApp believes that the presentation of the software and hardware components of our product revenues is meaningful to investors and management as it illustrates the significance of the Company’s software and provides improved visibility into the value created by our software innovation and R&D investment. Found inside – Page 108Today, NetApp is a global corporation with more than $3.4 billion in gross revenue and employs more than 8,300 people.4 American ManagementAssociation ... NetApp management compensates for these limitations by analyzing current and projected results on a GAAP basis as well as a non-GAAP basis. The daily chart for NTAP po NetApp excludes these charges and benefits, when significant, because it does not believe they are reflective of ongoing business and operating results. Balance Sheet & Cash Flow. Net revenues for the first quarter grew 12% year-over-year to $1.46 billion; Delivered strong start to fiscal year 2022 with double digit revenue and billings growth. K. Income tax adjustments. These non-GAAP financial measures are used to: (1) measure company performance against historical results, (2) facilitate comparisons to our competitors’ operating results and (3) allow greater transparency with respect to information used by management in financial and operational decision making. Product revenue for fiscal year 2019 grew 7% year-over-year. Because our revenue recognition policy under GAAP defines a configured storage system, inclusive of the operating system software essential to its functionality, as a single performance obligation, hardware and software components of our product revenues are considered non-GAAP measures. G. Gains/losses on the sale or derecognition of assets. NetApp usage of non-GAAP financial information. [4]GAAP net income per share and non-GAAP net income per share are calculated using the diluted number of shares. Management believes that the use of non-GAAP tax provisions provides a more meaningful measure of the Company’s operational performance. NetApp’s non-GAAP tax provision is based upon a projected annual non-GAAP effective tax rate for the first three quarters of the fiscal year and an actual non-GAAP tax provision for the fourth quarter of the fiscal year. This can be attributed to a 16% rise in its product revenues and a 155% rise in its NetApp public cloud revenues. NetApp makes additional adjustments to the non-GAAP tax provision for certain tax matters as described below. The … NetApp's revenues for the quarter to $1.30 billion from $1.24 billion last year. NetApp reported net income of $77 million, or 35 cents a share, on sales of $1.3 billion, up from $1.24 billion the year before. View Financial Tables (PDF) NetApp™ public cloud services annualized revenue run rate of $216 million, an increase of 200% year-over-year; All-flash array annualized net revenue run rate of $2.5 billion, an increase of 15% year-over-year; Billings 1 of $1.46 billion, increased 10% year-over-year NetApp’s management uses these non-GAAP measures in making operating decisions because it believes the measurements provide meaningful supplemental information regarding NetApp’s ongoing operational performance. We therefore exclude them in our assessment of operational performance. Found insideAs Amazon accelerated to a market capitalization of over $80 billion, ... nearly $20 billion in gross profits on just over $35 billion in revenue annually, ... Found inside – Page 10... total disk storage systems market grew to nearly $7.0 billion in revenues, ... NetApp and HP are in a statistical tie for third place, with 11.6 percent ... H. Gains/losses on the sale of investments in equity securities. Found inside – Page 83With annual revenues of $2.35 billion. ... microsoJt.com Mobile Insights 57 www.mobileinsights.com Network Appliance 55 www.netapp.com Nortel Networks 24 ... To supplement NetApp’s condensed consolidated financial statement information presented in accordance with generally accepted accounting principles in the United States (GAAP), NetApp provides investors with certain non-GAAP measures, including, but not limited to, historical non-GAAP operating results, non-GAAP net income, non-GAAP effective tax rate, free cash flow, billings, and historical and projected non-GAAP earnings per diluted share. About NetApp The Zacks Consensus Estimate was pegged at $5.69 billion. The amortization of intangible assets varies depending on the level of acquisition activity. The data storage company posted revenue of $1.46 billion in the period, which also topped Street forecasts. NetApp systems can integrate with enterprise applications for backup purposes, cloning, provisioning, and other self-service storage features. Oracle DB can be connected using Direct NFS (dNFS) client build inside database app which will provide network performance, resiliency, load balancing for NFS protocol with ONTAP systems. Revenue: $5 to $10 billion (USD) NetApp is a global cloud-led, data-centric software company that empowers organizations to lead with data in the age of accelerated digital transformation. A summary description of each segment follows. NetApp, which belongs to the Zacks Computer- Storage Devices industry, posted revenues of $1.46 billion for the quarter ended July 2021, surpassing the Zacks Consensus Estimate by 1.58%. Our industry-leading solutions are built so you can protect and secure your sensitive company data. NetApp excludes stock-based compensation expenses from its non-GAAP measures primarily because they are non-cash expenses. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with generally accepted accounting principles in the United States. C. Litigation settlements. Total billings saw a steeper rise (20%) across that stretch, to $1.38 billion. NetApp’s public cloud annual recurring revenue during the quarter grew 89 percent to $337 million, and is slated to be an annual $1 billion by 2025. [4]Non-GAAP net income excludes, when applicable, (a) amortization of intangible assets, (b) stock-based compensation expenses, (c) litigation settlements, (d) acquisition-related expenses, (e) restructuring charges, (f) asset impairments, (g) gains/losses on the sale or derecognition of assets, (h) gains/losses on the sale of investments in equity securities, (i) debt extinguishment costs, (j) COVID-19 charges and (k) our GAAP tax provision, but includes a non-GAAP tax provision based upon our projected annual non-GAAP effective tax rate for the first three quarters of the fiscal year and an actual non-GAAP tax provision for the fourth quarter of the fiscal year. Found inside – Page 66Page 44 Continued from page] NetApp technology as part of a search for data security ... Calif Founded: 1992 2004 revenue: $1.1 billion Employees: 2,844 and ... NetApp has generated $3.30 earnings per share over the last year ($3.75 diluted earnings per share) and currently has a price-to-earnings ratio of 23.7. *Software and recurring support and cloud revenue is a non-GAAP measure because it includes the software component of our product revenues, but not the hardware component. NetApp Had $1.56 Billion in Revenues in Q3 SUNNYVALE, CA —NetApp (NASDAQ: NTAP) reported financial results for the third quarter of fiscal year 2019, which ended January 25, 2019. Found inside – Page 49... Inc., (NetApp) highlights key market drivers for IP-connected network-at- ... IDC confirmed (IDC, 2004) that networked storage grew from US$6 billion in ... For the current quarter, the company expects revenue in the range of $1.59 billion to $1.69 billion. NetApp may periodically incur charges or benefits related to litigation settlements. 1 (408) 822-6628 These non-GAAP financial measures are used to: (1) measure company performance against historical results, (2) facilitate comparisons to our competitors’ operating results and (3) allow greater transparency with respect to information used by management in financial and operational decision making. NetApp stock’s rise since late-2018 came despite a 6% drop in revenues from $6.15 billion in FY2019 to $5.74 billion in FY2021 (NetApp’s fiscal year ends in April). Build your business on the best of cloud and on premises together with Hybrid Cloud Infrastructure solutions. Management believes that these transactions do not reflect the results of our underlying, on-going business and, therefore, are less useful for future planning and forecasting. Management finds it useful to exclude these non-cash charges due to the unpredictability of these events in its assessment of operational performance. These and other equally important factors are described in reports and documents we file from time to time with the Securities and Exchange Commission, including the factors described under the section titled “Risk Factors” in our most recently submitted annual report on Form 10-K and quarterly report on Form 10-Q. Since then, the company's revenue has steadily climbed. NetApp management compensates for these limitations by analyzing current and projected results on a GAAP basis as well as a non-GAAP basis. Pure Storage, NetApp beat Wall Street expectations as cloud services dominate. These are gains/losses from the sale of our properties and other transactions in which we transfer control of assets to a third party. While management views stock-based compensation as a key element of our employee retention and long-term incentives, we do not view it as an expense to be used in evaluating operational performance in any given period. 2All Flash Array annualized net revenue run rate is determined by products and services revenue for the current quarter, multiplied by 4. The non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, GAAP financial measures. NetApp sees Q2 2022 revenue of $1.49-1.59 billion, versus the consensus of $1.52 billion. Amortization of intangible assets. In addition, this press release, historical supplemental data tables, and other information related to the call will be posted on the Investor Relations website. 1 (408) 822-6628 Found insidePrior to her current role, Heckart was CMO of NetApp, general manager of ... ServiceSource is the global leader in recurring revenue management and works ... “Building on our accelerating momentum through last year, we are off to a great start to fiscal 2022, with strong revenue, gross margin, and operating leverage across the entire business,” said George Kurian, chief executive officer. These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with GAAP, and may be different from non-GAAP measures used by other companies. First quarter of fiscal year 2022 financial results, Second quarter of fiscal year 2022 financial outlook. These statements include, but are not limited to, all of the statements made in the Second Quarter of Fiscal Year 2022 Financial Outlook section and Full Fiscal Year 2022 Financial Outlook section and statements about the value we bring to customers, our ability to execute and our ability to bring industry leading capabilities to market. These are gains/losses from the sale of our investment in certain equity securities. We therefore exclude them in our assessment of operational performance. NetApp Total billings saw a steeper rise (20%) across that stretch, to … Found inside – Page 58Intel now expects revenue of between $8.7 billion and $9.1 billion. compared with an ... “We did do an evaluation of EMC and NetApp in a lab,” he said. Eight analysts surveyed by Zacks expected $1.44 billion. Found inside... hardware firms registration Revenue 2013 Employment 2013 R&D 2013 Income ... Incorporated Chinese Taipei 11967 7967 103 -90 NetApp Inc United States 6 ... K. Income tax adjustments. NetApp has excluded certain non-recurring expenses incurred as a direct result of the COVID-19 pandemic. Revenue and gross profit information has been disclosed for each segment, and prior period disclosures have also been revised for comparability. NetApp was founded in 1992 by David Hitz, James Lau, and Michael Malcolm as Network Appliance, Inc. At the time, its major competitor was Auspex Systems. NetApp will host a conference call to discuss these results today at 2:00 p.m. Pacific Time. All-flash array annualized net revenue run rate 1 increased 23% year-over-year to $2.8 billion. These and other equally important factors are described in reports and documents we file from time to time with the Securities and Exchange Commission, including the factors described under the section titled “Risk Factors” in our most recently submitted annual report on Form 10-K. We disclaim any obligation to update information contained in this press release whether as a result of new information, future events, or otherwise. To learn more, please refer to our recently updated, NetApp reports fourth quarter and fiscal year 2021 results, Continuous Integration Continuous Delivery, Statement on slavery and human trafficking. NetApp is the proven leader when it comes to modernizing and simplifying your storage environment. With solutions that perform across diverse environments, NetApp helps organizations build their own data fabric and securely deliver the right data, services, and applications to the right people—anytime, anywhere. Meanwhile, annualized … For fiscal 2021, NetApp reported revenues of $5.74 billion, up 6% from fiscal 2020 tally. Analysts had a consensus revenue estimate of $1.15 billion. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with generally accepted accounting principles in the United States. NetApp exited the quarter ending Jul 30, 2021, with $4.547 billion in cash, cash equivalents and investments compared with $4.596 billion as of Apr 30, 2021. Analysts surveyed by Investing.com expected $ 1.12 EPS for $ 1.5 billion in revenue. NetApp expects full-year earnings in the range of $4.85 to $5.05 per share. NetApp may periodically incur charges or benefits related to litigation settlements. J. COVID-19 charges. The company posted … 1 (831) 900-8889 The Company authorized an additional $500 million for the repurchase of shares of its common stock under its existing share repurchase program. During the same quarter in the previous year, the business earned $0.73 EPS. “Our focused execution last year has set us up well for FY22. 2021: Revenue growth to $5.74 billion, profit - $730 million. For the quarter, NetApp booked revenue of $1.46 billion, a 12% improvement year over year. Found inside – Page 222google-apps-enterprise-cloud-revenues-1b-2013 (accessed July 1, 2014); Julie Bort, “Google Generates $1 Billion on Five Enterprise Products: Can You Name ... The company reported non-GAAP earnings per share of $1.19 on revenue of $1.56 billion. D. Acquisition-related expenses. NetApp™ public cloud services annualized revenue run rate of $216 million, an increase of 200% year-over-year All-flash array annualized net revenue run rate of $2.5 billion, an increase of 15% year-over-year Billings 1 of $1.46 billion, increased 10% year-over-year $107 million returned to shareholders in cash dividend The filing shows that the IBM business now known as Kyndryl generated $19.35 billion in pro forma revenue in 2020. Found inside – Page 109The article produced by Cisco Systems and Network Appliance (NetApp) highlights ... customers might not return to the Web site, which leads to lost revenue. According to the results of work in fiscal 2021, the NetApp earned $5.74 billion in revenue, which exceeds the figure of a year ago, equal to $5.41 billion. Found inside_ \' Who they are: A $2 billion indepenc S dent oil and gas exploration and ... DAN ROSMAN that NAS devices just plug and play His first clustered NetApp ... Its non-GAAP net income came in at $263 million, up 61.3% from the same period last year, and its non-GAAP EPS was $1.15, beating the $0.95 consensus estimate by 21.1%. NetApp, the NetApp logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. All other marks are the property of their respective owners. [3]Refer to the NetApp Usage of Non-GAAP Financial Information section below for an explanation of billings and free cash flow. Found insidegrab an additional revenue stream of $1 billion. l was at a launch ... IBM, Hitachi Data Systems, 3PAR, NetApp, Brocade, and at least a dozen others. Found inside – Page 193Mastering the Four Stages from Idea to $10 Billion Peter S. Cohan ... Go-to-market is focused on revenue growth and customer satisfaction, measured by the ... A detailed reconciliation of our non-GAAP to GAAP results can be found at investors.netapp.com. Actual results may differ materially from these statements for a variety of reasons, including, without limitation, general global political, macroeconomic and market conditions (including the impact of the COVID-19 pandemic thereon), changes in U.S. government spending, revenue seasonality and matters specific to our business, such as the impact of the COVID-19 pandemic on the company’s business operations, financial performance and results of operations, our ability to expand our total available market and grow our portfolio of products, customer demand for and acceptance of our products and services, our ability to successfully execute new business models, our ability to successfully execute on our data fabric strategy to generate profitable growth and stockholder return and our ability to manage our gross profit margins. With solutions that perform across diverse environments, NetApp helps organizations build their own data fabric and securely deliver the right data, services, and applications to the right people—anytime, anywhere. We are gaining share in key storage markets and our public cloud services are at a scale where they are positively impacting total company billings and revenue growth,” said George Kurian, chief executive officer. NetApp believes that the presentation of the software and hardware components of our product revenues is meaningful to investors and management as it illustrates the significance of the Company’s software and provides improved visibility into the value created by our software innovation and R&D investment. The quarterly dividend will be paid on July 28, 2021, to shareholders of record as of the close of business on July 9, 2021. The non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, GAAP financial measures. NetApp believes that the presentation of non-GAAP net income, non-GAAP effective tax rates, and non-GAAP earnings per share data, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations. About NetApp F. Asset impairments. NetApp’s management uses these non-GAAP measures in making operating decisions because it believes the measurements provide meaningful supplemental information regarding NetApp’s ongoing operational performance. G. Gains/losses on the sale or derecognition of assets. Found inside – Page 12... the total disk storage systems market grew to $7.3 billion in revenues, ... NetApp and Dell finished the quarter in a statistical tie for fourth ... Get complete control over your data with simplicity, efficiency, and flexibility. Powerful, consistent end-user computer ( EUC ) experience—regardless of team size,,... 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