Why Is NetApp Stock Shooting Higher Today?



NetApp (NASDAQ:NTAP) shares are trading higher after the company reported third-quarter FY24 results and issued FY24 adjusted EPS guidance above estimates

Net revenue rose 5% Y/Y to $1.61 billion, beating the consensus of $1.59 billion. Billings rose 7% Y/Y to $1.69 billion in the quarter.

NetApp Public Cloud annualized revenue run rate (ARR) rose slightly to $608 million from $605 million a year ago. All-flash array ARR increased 21% Y/Y to $3.4 billion.

Adjusted EPS of $1.94, beating the consensus of $1.69.

As of third quarter FY24, cash, cash equivalents and …

Full story available on Benzinga.com


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