Summary by Moomoo AI
NetApp reported strong Q2 FY2025 results with net revenues of $1.66 billion, up 6% YoY, driven by record all-flash array annualized revenue of $3.8 billion, a 19% increase YoY. The company achieved GAAP operating margin of 21% and record non-GAAP operating margin of 29%. GAAP net income was $299 million or $1.42 per share, while non-GAAP EPS reached $1.87.Cloud performance was robust with first party and marketplace cloud storage services growing 43% YoY. The Hybrid Cloud segment generated $1.49 billion in revenue, while Public Cloud revenue reached $168 million. The company maintained strong capital return, distributing $406 million to stockholders through share repurchases and dividends.Looking ahead, NetApp provided Q3 FY2025 guidance with expected revenues of $1.61-1.76 billion and non-GAAP EPS of $1.85-1.95. For full FY2025, the company projects revenues of $6.54-6.74 billion and non-GAAP EPS of $7.20-7.40, with operating margins expected between 28-28.5% on a non-GAAP basis.
