For the quarter, NetApp (ticker: NTAP) reported revenue of $1.42 billion, up about 4% from a year ago, and ahead of both the company’s guidance range of $1.225 billion to $1.375 billion and the Street consensus at $1.31 billion. Non-GAAP profits were $1.05 a share, well ahead of the company’s guidance range of 66 to 74 cents a share. The Street consensus had been 73 cents a share.
For the January quarter, NetApp sees revenue of $1.34 billion to $1.349 billion, with non-GAAP profits of 94 cents to $1.02 a share; Street consensus had been $1.37 billion and 89 cents a share.
“In the second quarter, NetApp again delivered strong results, successfully executing against our plan to scale our cloud business while growing in the storage market,” NetApp CEO George Kurian said in a statement. “We are a primary beneficiary of the increasing importance of data and are uniquely positioned to help customers with their digital transformations. I am confident in our ability to drive long-term growth, extend our hybrid cloud leadership, and deliver value for customers, partners, and shareholders.”
The company said its public cloud-services business reached an annualized run-rate of $216 million, up 200% from a year ago. The company’s all-flash array annualized revenue was $2.5 billion, up 15% from a year ago. Billings were $1.46 billion, up 10% year over year.
NetApp shares in late trading rallied 4.6%, to $56.65.
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