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NetApp (NTAP) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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NetApp (NTAP - Free Report) reported $1.67 billion in revenue for the quarter ended April 2024, representing a year-over-year increase of 5.5%. EPS of $1.80 for the same period compares to $1.54 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.66 billion, representing a surprise of +0.43%. The company has not delivered EPS surprise, with the consensus EPS estimate being $1.80.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how NetApp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Gross margin - Product - Non GAAP: 61.3% compared to the 60.2% average estimate based on seven analysts.
Total Revenue- Reported: 6% versus 5.1% estimated by seven analysts on average.
Services gross margin - Non-GAAP: 81% versus the six-analyst average estimate of 80.9%.
Geographic Mix- EMEA: 34% versus 34.5% estimated by three analysts on average.
Revenue- Product: $806 million compared to the $788.23 million average estimate based on seven analysts. The reported number represents a change of +8.3% year over year.
Net Service revenue: $862 million versus the seven-analyst average estimate of $872.52 million. The reported number represents a year-over-year change of +3%.
Net Revenue- Public Cloud: $152 million versus $149.23 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +0.7% change.
Revenue- Professional and Other Services: $87 million versus $86.80 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.1% change.
Revenue- Support: $623 million versus $648 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.2% change.
Net Revenue- Hybrid Cloud: $1.52 billion versus the four-analyst average estimate of $1.51 billion. The reported number represents a year-over-year change of +6%.
Product Revenues- Software: $446 million versus $439.31 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2.1% change.
Product Revenues- Hardware: $360 million compared to the $330.94 million average estimate based on three analysts. The reported number represents a change of +17.3% year over year.
Shares of NetApp have returned +16.4% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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NetApp (NTAP) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
NetApp (NTAP - Free Report) reported $1.67 billion in revenue for the quarter ended April 2024, representing a year-over-year increase of 5.5%. EPS of $1.80 for the same period compares to $1.54 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.66 billion, representing a surprise of +0.43%. The company has not delivered EPS surprise, with the consensus EPS estimate being $1.80.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how NetApp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Gross margin - Product - Non GAAP: 61.3% compared to the 60.2% average estimate based on seven analysts.
- Total Revenue- Reported: 6% versus 5.1% estimated by seven analysts on average.
- Services gross margin - Non-GAAP: 81% versus the six-analyst average estimate of 80.9%.
- Geographic Mix- EMEA: 34% versus 34.5% estimated by three analysts on average.
- Revenue- Product: $806 million compared to the $788.23 million average estimate based on seven analysts. The reported number represents a change of +8.3% year over year.
- Net Service revenue: $862 million versus the seven-analyst average estimate of $872.52 million. The reported number represents a year-over-year change of +3%.
- Net Revenue- Public Cloud: $152 million versus $149.23 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +0.7% change.
- Revenue- Professional and Other Services: $87 million versus $86.80 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.1% change.
- Revenue- Support: $623 million versus $648 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.2% change.
- Net Revenue- Hybrid Cloud: $1.52 billion versus the four-analyst average estimate of $1.51 billion. The reported number represents a year-over-year change of +6%.
- Product Revenues- Software: $446 million versus $439.31 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2.1% change.
- Product Revenues- Hardware: $360 million compared to the $330.94 million average estimate based on three analysts. The reported number represents a change of +17.3% year over year.
View all Key Company Metrics for NetApp here>>>Shares of NetApp have returned +16.4% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.