NetApp said net revenues for fiscal 2024 were $6.27 billion, down 1% from $6.36 billion a year earlier, and GAAP net income was $986 million versus $1.27 billion a year earlier. Net revenues for Q4 were $1.67 billion, up 6% from the same quarter a year earlier.

1. 01

   NetApp said net revenues for fiscal 2024 were $6.27 billion, down 1% from $6.36 billion a year earlier, and GAAP net income was $986 million versus $1.27 billion a year earlier. Net revenues for Q4 were $1.67 billion, up 6% from the same quarter a year earlier.

2. 02

   The company said its GAAP gross margin for fiscal 2024 was 71%, its GAAP operating margin was 19%, and its non-GAAP operating margin was 27%. Non-GAAP diluted earnings per share were $6.46 ($5.59 a year earlier).

3. 03

   NetApp said operating cash flow for fiscal 2024 was $1.69 billion, compared with $1.11 billion a year earlier. It returned $1.32 billion to shareholders through share repurchases and cash dividends over the same period.

4. 04

   NetApp said its board approved an additional share repurchase authorization of $1 billion with no expiration date on May 23, 2024, and that the remaining authorized amount for repurchases was $0.5 billion as of April 26, 2024. It also expects net revenues for fiscal 2025 to be in the range of $6.450 billion to $6.650 billion.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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