NetApp Inc. (NASDAQ:NTAP) posted its fiscal 2027 first-quarter results after Wednesday’s closing bell. Here’s a look at the details from the quarter.
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NetApp Q1 Details
NetApp reported quarterly earnings of $2.58 per share, which beat the consensus estimate of $2.12 by 21.7%, per Benzinga Pro data.
Quarterly revenue of $2.03 billion beat the Street estimate of $1.84 billion and was up from $1.56 billion in the same period last year.
"NetApp delivered a record-setting start to the year, exceeding guidance on every metric and achieving our strongest first quarter ever," said CEO George Kurian.
"Our momentum reflects not only the trust of existing customers but also our success in winning new ones, as organizations choose the NetApp Platform to power their AI and hybrid multi-cloud initiatives,” Kurian added.
Looking Ahead
NetApp raised its fiscal 2027 adjusted EPS guidance to between $9.73 and $10.03, versus the $9.01 analyst estimate, and raised its revenue outlook to between $7.98 billion and $8.23 billion, versus the $7.54 billion estimate.
NTAP Stock Price: According to data from Benzinga Pro, NetApp stock was down 9.82% to $163.01 in Wednesday’s extended trading.
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