NASDAQ$NTAP
NetApp Inc · Q1 2025 earnings
Q1 2025 earnings · · Investor relations
Briefing
NetApp reported strong revenue growth and record first quarter operating margin and EPS.
NetApp reported Q1 2025 results with net revenues of $1.54 billion, an 8% year-over-year increase. The company achieved record first quarter GAAP operating margin of 18% and non-GAAP operating margin of 26%. GAAP net income per share was $1.17, and non-GAAP net income per share was $1.56.
- Net revenues reached $1.54 billion, an 8% year-over-year increase.
- All-flash array annualized net revenue run rate was $3.4 billion, a 21% year-over-year increase.
- First party and marketplace cloud storage services revenue grew approximately 40% year-over-year.
- Returned $507 million to stockholders through share repurchases and cash dividends.
Headline financials
Revenue & EPS history
NetApp · Revenue · Quarterly
$1.54B
Revenue by segment
NetApp · $1.56B total across 2 segments · Q2 2024
- Hybrid Cloud$1.41B-7.4%90.1%
- Public Cloud$154M+8.5%9.9%
Forward guidance
The Company provided the following financial guidance for the second quarter of fiscal year 2025: Net revenues are expected to be in the range of: $1.565 billion - $1.715 billion, GAAP Earnings per share is expected to be in the range of: $1.27 - 1.37, Non-GAAP Earnings per share is expected to be in the range of: $1.73 - $1.83 The Company provided the following update to financial guidance for the full fiscal year 2025: Net revenues are expected to be in the range of: $6.480 billion - $6.680 billion, GAAP Consolidated gross margins are expected to be in the range of: 70% - 71%, Non-GAAP Consolidated gross margins are expected to be in the range of: 71% - 72%, Operating margins are expected to be in the range of: 20% - 21%, Non-GAAP Operating margins are expected to be in the range of: 27% - 28%, Earnings per share is expected to be in the range of: $5.17 - $5.37, Non-GAAP Earnings per share is expected to be in the range of: $7.00 - $7.20
Tailwinds
- Net revenues are expected to be in the range of $1.565 billion - $1.715 billion for Q2 2025.
- GAAP earnings per share is expected to be in the range of $1.27 - $1.37 for Q2 2025.
- Non-GAAP earnings per share is expected to be in the range of $1.73 - $1.83 for Q2 2025.
- Net revenues are expected to be in the range of $6.480 billion - $6.680 billion for fiscal year 2025.
- Non-GAAP Earnings per share is expected to be in the range of: $7.00 - $7.20 for fiscal year 2025.
Headwinds
- GAAP Consolidated gross margins are expected to be in the range of: 70% - 71% for fiscal year 2025
- Operating margins are expected to be in the range of: 20% - 21% for fiscal year 2025
- GAAP Earnings per share is expected to be in the range of: $5.17 - $5.37 for fiscal year 2025
- Uncertain macroeconomic environment.
- Impact of supply chain disruptions on business operations, financial performance and results of operations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2025
+0.2%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+1.9%
Avg return
30 days after
51%
35 / 69 earnings
Positive
+19.6%
Q3 2024
Best reaction
-16.8%
Q1 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +8.5% | +10.3% | — | |
| Q3 2026 | -2.4% | +0.4% | +3.2% | |
| Q2 2026 | -6.7% | +0.7% | -0.9% | |
| Q1 2026 | +4.4% | +2.9% | +6.9% | |
| Q4 2025 | -0.2% | +4.6% | +6.6% | |
| Q3 2025 | -15.6% | -19.8% | -25.2% | |
| Q2 2025 | -0.9% | +5.0% | -4.1% | |
| Q1 2025 | -10.5% | -9.3% | -8.9% | |
| Q4 2024 | +2.5% | +1.3% | +9.6% | |
| Q3 2024 | +19.6% | +16.6% | +19.2% | |
| Q2 2024 | +14.7% | +16.9% | +13.0% | |
| Q1 2024 | -1.3% | -0.7% | -0.6% | |
| Q4 2023 | +4.1% | +1.7% | +10.6% | |
| Q3 2023 | +0.4% | -1.8% | -7.4% | |
| Q2 2023 | -6.8% | -8.5% | -17.2% | |
| Q1 2023 | +7.2% | +0.2% | -13.4% | |
| Q4 2022 | +1.3% | -1.5% | -12.7% | |
| Q3 2022 | -7.9% | -9.0% | -0.5% | |
| Q2 2022 | -2.3% | -1.6% | +0.2% | |
| Q1 2022 | +6.6% | +9.4% | +15.9% | |
| Q4 2021 | +2.6% | +5.6% | +8.2% | |
| Q3 2021 | -11.7% | -5.9% | +7.8% | |
| Q2 2021 | +11.1% | +12.5% | +24.3% | |
| Q1 2021 | +5.1% | +13.5% | +0.5% | |
| Q4 2020 | -2.2% | -5.5% | -2.5% | |
| Q3 2020 | -6.6% | -8.2% | -30.9% | |
| Q2 2020 | +3.1% | +5.6% | +5.2% | |
| Q1 2020 | -1.1% | +0.0% | +20.4% | |
| Q4 2019 | -11.9% | -11.4% | -12.2% | |
| Q3 2019 | -5.2% | -4.6% | +1.4% | |
| Q2 2019 | -12.7% | -14.7% | -22.1% | |
| Q1 2019 | -3.9% | -0.5% | +3.6% | |
| Q4 2018 | +1.6% | +0.2% | +14.8% | |
| Q3 2018 | -1.8% | -3.8% | +8.8% | |
| Q2 2018 | +16.4% | +20.0% | +25.5% | |
| Q1 2018 | -5.7% | -7.2% | -2.2% | |
| Q4 2017 | +3.7% | +1.9% | +1.0% | |
| Q3 2017 | +2.6% | +1.6% | +6.4% | |
| Q2 2017 | +5.8% | +6.5% | +4.5% | |
| Q1 2017 | +17.0% | +19.9% | +20.2% | |
| Q4 2016 | -1.2% | +0.4% | -1.9% | |
| Q3 2016 | +3.6% | — | — | |
| Q2 2016 | -1.1% | — | — | |
| Q1 2016 | +1.7% | — | — | |
| Q4 2015 | -10.1% | — | — | |
| Q3 2015 | -6.4% | — | — | |
| Q2 2015 | -2.8% | — | — | |
| Q1 2015 | +5.2% | — | — | |
| Q4 2014 | +6.5% | — | — | |
| Q3 2014 | -5.9% | — | — | |
| Q2 2014 | +2.2% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | +0.2% | — | — | |
| Q3 2013 | +1.3% | — | — | |
| Q2 2013 | +14.7% | — | — | |
| Q1 2013 | +4.9% | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2012 | +9.3% | — | — | |
| Q2 2012 | -14.7% | — | — | |
| Q1 2012 | -16.8% | — | — | |
| Q4 2009 | -2.9% | — | — | |
| Q4 2011 | -2.9% | — | — | |
| Q3 2010 | -2.5% | — | — | |
| Q3 2011 | -2.5% | — | — | |
| Q2 2011 | -0.8% | — | — | |
| Q4 2010 | +3.9% | — | — | |
| Q2 2010 | +3.9% | — | — | |
| Q1 2011 | +3.9% | — | — | |
| Q1 2010 | +3.9% | — | — |
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