- NetApp press release ( NASDAQ: NTAP ): Q3 Non-GAAP EPS of $1.37 beats by $0.06 .
- Revenue of $1.53B (-5.0% Y/Y) misses by $80M .
- Billings: $1.57 billion, compared to $1.76 billion in the third quarter of fiscal year 2022; a year-over-year decrease of 11%, or 7% in constant currency.
- NetApp Public Cloud annualized revenue run rate $605 million, compared to $469 million in the third quarter of fiscal year 2022; a year-over-year increase of 29%.
- All-flash array ARR 4 $2.8 billion, compared to $3.2 billion in the third quarter of fiscal year 2022; a year-over-year decrease of 12%.
- Cash, cash equivalents and investments: $3.1 billion at the end of the third quarter of fiscal year 2023.
- Cash provided by operations: $377 million, compared to $260 million in the third quarter of fiscal year 2022.
- Share repurchase and dividends: Returned $308 million to shareholders through share repurchases and cash dividends.
- Q4 Outlook: Net revenues are expected to be in the range of: $1.475 billion to $1.625 billion; Non-GAAP EPS $1.30 - $1.40.
- 2023 Outlook: Consolidated gross margins are expected to be in the range of: 66% - 67%; Operating margins are expected to be: 23% - 24%; Non-GAAP EPS $5.30 - $5.50.
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NetApp Non-GAAP EPS of $1.37 beats by $0.06, revenue of $1.53B misses by $80M