NetApp | 10-K: FY2024 Annual Report
NetApp | 10-K: FY2024 Annual Report
美国网存 | 10-K:2024财年年报
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NetApp reported fiscal year 2024 results with net revenues of $6.27 billion, down 1% year-over-year, while net income reached $986 million. Gross margin improved significantly to 71% from 66% in the prior year, driven by lower component and freight costs. Operating income increased to $1.21 billion, representing 19% of net revenues.The company's Hybrid Cloud segment generated revenues of $5.66 billion, while Public Cloud revenues grew 6% to $611 million, reflecting strong customer demand for cloud offerings. Cash flow from operations was robust at $1.69 billion, and the company returned significant capital to shareholders through $900 million in share repurchases and $416 million in dividends.Looking ahead, NetApp continues to focus on its strategic priorities including operational simplicity, cyber resilience, AI innovation, and infrastructure savings. The company maintained a strong balance sheet with $3.25 billion in cash and investments, while executing two restructuring plans during the year to optimize resources and reduce costs.